After over 40 years of ownership, the Buss family officially passed the power. According to ESPN’s Shams Charania, Mark Walter, CEO of TWG Global and a 26% stakeholder in the Lakers, agreed to purchase the Buss family’s majority share in a groundbreaking deal valued at approximately $10 billion. The sale sets a new global record for the highest price ever paid for a professional sports franchise and marks the end of the most successful ownership era in NBA history.
Walter is a well-known figure in the sports world. He owns the Los Angeles Dodgers, has a stake in Chelsea FC, the WNBA’s Los Angeles Sparks, and even a Formula One team. For now, Jeanie Buss will remain the Lakers’ team governor, but the Buss family will keep only about 15%ownership. This indicates that they are gaining majority team control after many years.
Jerry Buss bought the Lakers in 1979 for $67.5 million, and since then, the team has become one of the best in NBA history. Under the Buss family, the Lakers won 11 NBA titles, have a .604 winning percentage, 301 playoff wins, and six MVP awards. Stars like Magic Johnson, Kareem Abdul-Jabbar, Shaquille O’Neal, and Kobe Bryant helped build this legacy. The team’s latest championship was in 2020.
The Lakers ranks under Jerry, Jeanie and the Buss family since purchasing the team back in 1979:
— ClutchPoints (@ClutchPoints) June 19, 2025
🏆 .604 win percentage (1st in NBA)
🏆 301 playoff wins (1st in NBA)
🏆 11 championships (1st in NBA)
🏆 6 MVP winners (1st in NBA) – Magic Johnson (3), Kareem Abdul-Jabbar, Shaq and… pic.twitter.com/Jdt3KPbpcU
This season, the Lakers grabbed attention again with a big trade for Luka Doncic, showing they still want to compete for titles. However, as Mark Walter takes over, the Buss family’s long run as majority owners ends. Their impact goes beyond the trophies; they sped the Lakers into one of the most famous and successful teams in basketball.
Buss Era Ended With The Los Angeles Lakers
After buying Phil Anschutz’s 26% stake in 2021, Walter had the first right of refusal, and now steps into full control. The Lakers join a growing list of NBA franchises changing hands, including the Boston Celtics, Phoenix Suns, and Dallas Mavericks. However, no transition comes with this level of historical weight.
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Magic Johnson, a key presence in the Buss dynasty and now a partner with Walter in the Dodgers, welcomed the deal. “He is driven by winning, excellence, and doing everything the right way. Laker fans should be ecstatic,” Johnson wrote.
The Buss name will still appear on the Lakers’ center, but their chapter as principal owners just closed, and with it, arguably the most incredible ownership legacy in NBA history.
