The End of an Era: Buss Family Sells Majority Stake in Lakers for Record $10 Billion

The End of an Era: Buss Family Sells Majority Stake in Lakers for Record $10 Billion

 

In a seismic shift for both the NBA and the sports world at large, the Buss family has agreed to sell a majority controlling stake in the Los Angeles Lakers to Mark Walter, the CEO of TWG Global and principal owner of the Los Angeles Dodgers. The transaction, which values the Lakers at an unprecedented $10 billion, marks the highest valuation ever recorded for a professional sports franchise.

 

This development brings a dramatic close to a nearly five-decade era of Buss family leadership—an era synonymous with NBA glamour, dominance, and enduring legacy. While Jeanie Buss will remain involved with the franchise as team governor and minority owner, the controlling stake’s transfer signals a transformative moment in professional sports ownership, blending tradition with a vision for modern expansion.

 

A Legacy That Transformed Basketball

 

Dr. Jerry Buss purchased the Lakers in 1979, along with the Los Angeles Kings and The Forum, for $67.5 million. What followed was an unparalleled legacy of success, showmanship, and innovation. Under Buss ownership, the Lakers became the NBA’s marquee franchise, winning 11 championships and cultivating a brand that transcended basketball—from “Showtime” Magic Johnson to Kobe Bryant and LeBron James.

 

The Buss family wasn’t just about winning titles—they helped revolutionize the fan experience, broadcasting strategy, and global marketing of basketball. The Lakers became a cultural institution, aligning Hollywood, sports, and business under one iconic purple-and-gold banner.

 

Jeanie Buss took over as controlling owner in 2013 following her father’s passing. Her leadership culminated in the franchise’s 17th NBA championship in 2020. Though recent years have seen inconsistency on the court, the Lakers’ global value and influence have never waned.

 

Why Sell Now?

 

The decision to sell a majority stake wasn’t driven by scandal or failure—it’s about timing, valuation, and strategic transition. Valued at $10 billion, the Lakers now outpace all prior sports team sales, including the Washington Commanders ($6.05 billion) and Chelsea FC ($5.4 billion). This valuation reflects the escalating worth of premium sports franchises amid soaring media rights, globalization, and cross-league synergies.

 

Sources close to the deal suggest that the family recognized the unique opportunity to exit with a historic financial return while maintaining continuity. Mark Walter already owned 27% of the Lakers and was seen as a natural successor who could preserve the Lakers’ ethos while modernizing operations.

 

Walter’s TWG Global brings vast experience in media, finance, and sports management. Under his leadership, the Dodgers have become a model of stability and innovation in Major League Baseball, consistently delivering competitive teams and strong business performance. His involvement in Chelsea FC and the Professional Women’s Hockey League demonstrates a broader commitment to global sports investment.

 

The Deal Structure and Future Control

 

Though details are still emerging, the $10 billion valuation includes not just the team’s revenues and assets, but also the Lakers’ share in media rights, merchandise, global brand equity, and stake in regional sports network Spectrum SportsNet.

 

Jeanie Buss will retain at least a 15% stake and stay on as team governor—a move likely designed to comply with NBA rules requiring a governor to hold a significant ownership share. Her continued presence will also provide a stabilizing influence during the transition and maintain fan trust in the short term.

 

For Walter, this is less a hostile takeover than a strategic evolution. He is expected to build on the existing Lakers brand while investing in advanced analytics, global outreach, digital fan engagement, and long-term sustainability—areas where traditional NBA teams are increasingly focusing their efforts.

 

Cultural Impact: More Than Just a Team

 

The Lakers have always been more than a basketball franchise. They are cultural royalty—reflected in courtside appearances from Jack Nicholson, Beyoncé, and countless other icons. A fixture of Los Angeles life and Hollywood lore, the team commands unmatched attention, blending celebrity glamour with hard-nosed competition.

 

The sale has sparked emotional reactions across generations of fans and former players. Magic Johnson, the heart of the “Showtime” era and a close friend of the Buss family, called it a “bittersweet moment” but expressed optimism, saying, “Mark Walter understands legacy. He knows what the Lakers mean to this city and this league.”

 

Meanwhile, NBA Commissioner Adam Silver praised the transition as “a responsible and forward-looking move,” noting that the NBA will benefit from the stability and resources Walter brings.

 

What Comes Next?

 

For fans, the most immediate question is: Will this change impact basketball operations?

 

In the short term, likely not. General Manager Rob Pelinka and the front office will remain in place, with head coach JJ Redick recently hired to usher in a new era focused on youth development and retooling around Anthony Davis.

 

However, long-term changes are inevitable. Walter’s leadership may introduce a different approach to roster construction, sports science, marketing, and partnerships. Expect a more global footprint, increased tech integration, and perhaps new facilities or innovations to enhance player development and fan interaction.

 

NBA Trend: Billionaire Buyers and Global Expansion

 

The Lakers sale is not occurring in a vacuum—it’s part of a broader trend across major sports leagues where ultra-wealthy investors, often with backgrounds in tech or finance, are taking the reins of iconic teams. These owners view franchises not just as trophies but as long-term investments and media platforms.

 

Walter’s growing sports empire mirrors this shift. It also reflects the NBA’s vision of becoming a global entertainment juggernaut. With players from over 40 countries and games broadcast in over 200 territories, the league is poised for even more international growth.

 

By securing a controlling stake in its most valuable team, Walter positions himself as one of the league’s most influential owners, potentially shaping decisions around league media deals, expansion, and collective bargaining.

 

Fan Reactions: Pride, Sadness, and Cautious Hope

 

Initial fan reactions have been a mix of pride in the Buss legacy, sadness over the symbolic end of a family dynasty, and cautious hope for what’s to come. Lakers fans are famously loyal, but they are also highly demanding. Many will watch Walter’s next steps closely—especially regarding free agency, draft strategy, and team performance.

 

However, the fact that Jeanie Buss remains involved offers reassurance. Her legacy as the league’s first female governor to win a championship remains intact, and her business acumen continues to be respected.

 

Final Thoughts: A New Chapter for a Global Giant

 

The sale of the Los Angeles Lakers’ majority stake marks the end of a historic chapter and the beginning of a new era. It’s a story about legacy, evolution, and the ever-growing intersection of sports, business, and entertainment.

 

The Buss family’s stewardship transformed the NBA and brought joy to generations of fans. Mark Walter now assumes the mantle of preserving that heritage while steering the Lakers into a bold, global future.

 

The pressure is immense, the expectations are sky-high—but so is the potential