Lakers Sold in Record-Breaking $10 Billion Deal

The Los Angeles Lakers have been sold in a record-breaking $10 billion deal, marking the end of the Buss family's 47-year ownership. Get the latest updates.

The Buss family is reportedly selling a majority stake in the Los Angeles Lakers to billionaire Mark Walter in a record-breaking $10 billion deal, valuing the franchise at a historic high. Walter, who already holds a stake in the team, will gain controlling interest in the iconic NBA franchise.

While Jeanie Buss would continue as Lakers governor, the deal ends the Buss family's 47-year reign over the NBA giants.

Walter is the chief executive of holding company TWG Global which has built an impressive portfolio of professional sports teams, including the Los Angeles Dodgers and Los Angeles Sparks.

TWG also owns the Billie Jean King Cup tennis tournament and the Cadillac Formula One team.

Details of the deal remain undisclosed, but Lakers legend Magic Johnson, a business partner of Mark Walter, was quick to react to the news of the agreement.

“Laker fans should be ecstatic,” Johnson wrote on X. “A few things I can tell you about Mark - he is driven by winning, excellence, and doing everything the right way. And he will put in the resources needed to win! I can understand why Jeanie sold the team to Mark Walter because they are just alike.”

Magic Johnson expressed optimism about the deal, citing Mark Walter's successful ownership of the Los Angeles Dodgers, who have won the World Series twice under his group's leadership.

The Lakers just sold for $10 BILLION 🤯 Which owners got a bargain and who got burned? pic.twitter.com/c1WSFmKZpo

— betr (@betr_au) June 19, 2025

“Mark is the best choice and will be the best caretaker of the Laker brand,” Johnson wrote. “The proof is in the pudding on what he's been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner.”

The sale marks the end of the Buss family's 47-year reign over the Los Angeles Lakers, concluding an era in NBA history. Jerry Buss acquired the team in 1979 and transformed it into a dominant franchise and global brand.

Under the Buss family's ownership, the Lakers won 11 NBA championships, the most by any team during that period. The era saw iconic teams like the “Showtime” Lakers with Magic Johnson and the Kobe Bryant-led team that won three consecutive titles from 2000 to 2002.

Mark Walter became a minority owner of the Lakers in 2021, purchasing a stake in the team and securing a clause that gave him first refusal to buy the club if the Buss family decided to sell.

The $10 billion sale of the Los Angeles Lakers shatters the record for the highest amount paid for a US sports team. The previous record was set earlier this year when the Boston Celtics sold for $6.1 billion, surpassing the $6.05 billion paid for the Washington Commanders in 2023.