Lakers Sold for Record-Breaking $10 Billion to Mark Walter, Ending Buss Family’s Era
In a historic and unprecedented deal that has rocked the sports world, the Los Angeles Lakers—one of the NBA’s most storied franchises—have been sold for a record-shattering $10 billion to billionaire investor Mark Walter, CEO of Guggenheim Partners and co-owner of the Los Angeles Dodgers. The sale, finalized in June 2025, represents the largest transaction in North American sports history, eclipsing the previous high set by the Boston Celtics’ $6.1 billion sale earlier this year.
This milestone not only signals a dramatic financial leap in franchise valuations but also marks the end of the Buss family’s majority control, which began in 1979 with Dr. Jerry Buss. However, in a symbolic gesture toward continuity, Jeanie Buss, Jerry’s daughter and long-time team governor, will retain a minority stake and continue to serve as team governor.
A Dynasty Changes Hands
The Lakers’ journey to this historic moment began over four decades ago when Jerry Buss purchased the team from Jack Kent Cooke for just $67.5 million. Under his ownership, the Lakers became synonymous with success, winning 10 NBA titles and transforming into a global brand. Jerry’s blend of basketball knowledge and entertainment acumen helped usher in the “Showtime” era—led by Magic Johnson, Kareem Abdul-Jabbar, and later, Kobe Bryant.
Upon his death in 2013, Jerry Buss left the Lakers to his six children via a family trust, with Jeanie Buss ultimately taking on the role of controlling owner. Under her leadership, the Lakers won the 2020 NBA championship in the COVID-19 “bubble,” restoring some of the team’s prestige after a decade of rebuilding.
Yet, despite her public insistence over the years that the family had no intention of selling, the recent offer from Mark Walter proved too substantial to pass up. Valued at $10 billion, the sale stunned even seasoned sports business observers and highlights the ever-growing financial stakes involved in professional sports ownership.
Who Is Mark Walter?
The new controlling owner of the Lakers is Mark Walter, an influential yet low-profile figure in the finance and sports world. As CEO of Guggenheim Partners, Walter oversees more than $325 billion in assets under management. He has long held interests in sports franchises, co-owning the Los Angeles Dodgers since 2012 along with Todd Boehly and Magic Johnson. Under their stewardship, the Dodgers have become perennial World Series contenders and one of MLB’s most profitable teams.
Walter also holds stakes in the WNBA’s Los Angeles Sparks, Chelsea FC of the English Premier League, Cadillac’s Formula One team, and RC Strasbourg, a French football club. His acquisition of the Lakers completes what might be called a “Los Angeles sports empire.”
His background in finance, coupled with a proven track record in sports operations, positions Walter as a formidable successor to the Buss legacy.
Jeanie Buss Retains a Role
A key component of the sale is Jeanie Buss’ continued involvement. Despite relinquishing majority control, Jeanie will retain her position as team governor and maintain a significant minority ownership stake, believed to be around 15–20%. This decision likely served both symbolic and practical purposes: preserving continuity for fans and maintaining operational consistency during a period of immense transition.
Jeanie’s leadership in recent years has been marked by her decision to bring in Lakers legend Magic Johnson and former agent Rob Pelinka to oversee basketball operations, a gamble that led to the franchise’s 17th title in 2020. Her ongoing presence suggests that, while ownership dynamics are changing, the Lakers will continue to honor the Buss family’s influence.
The Financials: Why $10 Billion?
The $10 billion price tag stunned analysts, especially considering the Lakers were most recently valued by Forbes at around $6.4 billion. Several factors helped inflate the valuation:
- Global Brand Power – The Lakers are arguably the most globally recognized NBA team, boasting a worldwide fanbase and a roster of historical superstars, from Magic Johnson and Kobe Bryant to LeBron James.
- Media Rights Boom – The NBA is negotiating a new media rights deal expected to bring in upwards of $75 billion league-wide. Teams with massive market reach, like the Lakers, are expected to be key beneficiaries.
- Scarcity of Iconic Franchises – Elite sports franchises are increasingly viewed as “trophy assets” by billionaires. With only a handful of such globally resonant teams in existence, competition drives up prices.
- Location – Based in Los Angeles, the nation’s second-largest media market, the Lakers are well-positioned to tap into advertising, sponsorship, and branding revenues that few teams can match.
What’s Next for the Lakers?
Mark Walter’s acquisition will almost certainly have far-reaching implications. While he has expressed admiration for the franchise’s rich history and promised to “preserve the legacy,” observers expect to see a series of strategic moves aimed at modernizing the organization’s operations, improving infrastructure, and possibly making high-level executive changes.
Key areas to watch:
- Player Development and Analytics – Walter is known for his emphasis on data-driven decision-making, which could influence how the Lakers approach scouting, training, and player health.
- Arena and Real Estate Plans – Though the Lakers currently share Crypto.com Arena with the Clippers, Kings, and Sparks, Walter might explore building a new arena tailored specifically for the Lakers brand.
- International Expansion – With global ownership experience, Walter is likely to expand the Lakers’ footprint in Asia and Europe, deepening international fan engagement and merchandising.
- LeBron James’ Future – LeBron James has made no secret of his ambition to own an NBA team. With his close ties to the Lakers and existing relationships with Walter, speculation is swirling about whether LeBron could one day transition into a formal ownership role under Walter’s leadership.
A Shift in the NBA Landscape
This sale will undoubtedly cause ripples across the NBA and professional sports at large. For one, it significantly raises the bar for franchise valuations, signaling to other team owners what they might expect in future sales or equity buy-ins. It also adds to the ongoing shift toward billionaire-led ownership groups with diversified portfolios and cross-league synergies.
Furthermore, it may inspire other iconic teams—such as the Knicks, Bulls, or Warriors—to reevaluate their ownership structures in the face of unprecedented market demand and exploding valuations.
Reactions from Around the League
The basketball world has responded with a mix of awe, nostalgia, and curiosity. Magic Johnson, who was a minority owner before selling his stake in 2010, congratulated both Jeanie Buss and Mark Walter, saying, “This is a new chapter, but not the end of the Lakers legacy. Walter understands what it means to win—and Jeanie remains the soul of this team.”
Lakers star Luka Dončić, recently acquired in a blockbuster trade, expressed support, stating, “I’m honored to be part of this transition and excited to help build the next dynasty.”
Even NBA Commissioner Adam Silver praised the deal, calling it “a strong endorsement of the league’s future” and citing the Lakers as a “model franchise for global growth.”
Conclusion
The $10 billion sale of the Los Angeles Lakers marks a transformative moment not just for the team, but for professional sports worldwide. It’s the end of the Buss family’s era of majority ownership—an era marked by unmatched success and cultural relevance—and the dawn of a new one led by Mark Walter, a modern mogul with global vision and deep sports acumen.
As Jeanie Buss transitions into a new role and Walter takes the reins, one thing is certain: the eyes of the basketball world will be firmly fixed on Los Angeles. A new chapter has begun for the Purple and Gold, and if history is any indicator, it’s bound to be unforgettable.
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