For the first time since 1979, the Los Angeles Lakers changed majority ownership. Jeanie Buss and the Buss family sold their controlling stake to billionaire Mark Walter. This deal sets a new record for the largest sale in U.S. professional sports history. Despite the change in ownership, Buss will remain a key figure in the organization’s future.
As reported by ESPN’s Shams Charania, Jeanie Buss will continue to serve as the Lakers’ franchise governor and remain in charge of key basketball decisions even though she left the ownership in a historic $10 billion deal. This allows her to step back from the pressures of ownership while maintaining control over the team’s direction, much like her late father, Jerry Buss, did when he built the Lakers into an NBA powerhouse.
BREAKING: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN. Jeanie Buss will continue to serve in her role as Governor after the sale. pic.twitter.com/1Da6LDD7TJ
— Shams Charania (@ShamsCharania) June 18, 2025
The sale nearly doubles the previous record set by the Boston Celtics, which was sold for $6.1 billion earlier this year. Mark Walter, who has extensive experience in sports ownership, including his role as the controlling owner of the Dodgers, is now the majority owner of the Lakers. He brings a wealth of expertise that could shape the team’s future.
Mark Walter Takes Ownership, While Jeanie Buss Sits In Charge
Even though Mark Walter is now the majority owner, Jaenie Buss will continue to oversee all basketball-related decisions. This ensures the walkers maintain stability during a critical period as the team looks to transition beyond LeBron James and possibly rise to the top with Luka Doncic as the next face of the franchise.
The sale gives Buss the best of both worlds, allowing her to stay involved in the team while easing the burden of high responsibilities. It’s a rare arrangement in professional sports, especially in a market like the Lakers, where family legacy and brand consistency matter as much as the bottom line. With Walter’s support, the team is ready to fight for long-term success on both ends of the court.
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Also Read: Magic Johnson Takes Nasty Shot At Boston Celtics After Jeanie Buss’ Stunning Lakers Sale
