In a historic decision, billionaire Mark Walter will acquire Los Angeles Lakers in a deal worth a record high 10 billion dollars. The transaction closes a 46-year tenure of the Buss family as the proprietors of one of the most renowned franchise in basketball. Not only will the sale of the team shake up the NBA, but it will also do so because of its magnitude and what it symbolizes as a change in terms of ownership in sport, as well as the introduction of a new breed of mega-billionaire buyers.
The Legacy of the Buss Family
The Buss family has owned the Lakers since 1979, when the legendary Dr. Jerry Buss acquired the team. he bought the Lakers at a sensational price of only 67.5 million dollars. During the decades, the Lakers recorded 17 NBA titles, which equals the Boston Celtics franchise record in terms of the most championships won in NBA history. Since the death of Jerry in 2013, Jeanie Buss, his daughter, has taken the reins and has remained the team president.
Though Jeanie Buss will also remain active in some way, Mark Walter will now possess the larger share of the team. Market forces, as well as the future of the NBA, might force them to change the words issued long ago about never considering selling.
The $10 Billion Game-Changer
The Buss family has owned the Lakers since 1979, when the legendary Dr. Jerry Buss acquired the team. he bought the Lakers at a sensational price of only 67.5 million dollars. During the decades, the Lakers recorded 17 NBA titles, which equals the Boston Celtics franchise record in terms of the most championships won in NBA history. Since the death of Jerry in 2013, Jeanie Buss, his daughter, has taken the reins and has remained the team president.
Though Jeanie Buss will also remain active in some way, Mark Walter will now possess the larger share of the team. Market forces, as well as the future of the NBA, might force them to change the words issued long ago about never considering selling.
Who is Mark Walter?
Mark Walter is no stranger to the world of sports. Worth an estimated $12.5 billion, he is the CEO of Guggenheim Partners, a financial firm that manages over $325 billion in assets. Walter is also the controlling owner of the Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA), and holds shares in Chelsea FC, a top Premier League soccer team.
Beyond that, he owns stakes in the Cadillac Formula One team, the Billie Jean King Cup tennis tournament, and a new professional women’s hockey league. Through his holding company, TWG Global, Walter is building one of the most powerful portfolios in sports.
He previously bought a small share in the Lakers back in 2021, which came with a “right of first refusal”—meaning he got first dibs if the Buss family ever chose to sell. That moment has now arrived, and Walter is stepping in.
Why This Deal Matters
This sale is about more than just numbers. It signals a shift in how sports franchises are owned and operated. For decades, families like the Busses ran teams like family businesses. But now, Wall Street-level billionaires are turning teams into high-value assets. With streaming rights, international branding, and digital fan experiences, the value of sports teams is growing fast—and investors like Walter want in.
It also highlights the increasing trend of billionaires diversifying their portfolios through sports. Teams are no longer just passion projects—they are strategic investments.
What About the Fans?
Fans of the Lakers have mixed feelings. Many are emotional about the Buss family stepping back. After all, they brought in legends like Magic Johnson, Kobe Bryant, and Shaquille O’Neal. They helped build the “Showtime” era and turned the Lakers into global icons.
But fans are also hopeful. Walter has a strong track record with the Dodgers, helping them win a World Series in 2020 and building a winning culture. If he brings the same energy to the Lakers, it could mean big things for the future—both on and off the court.
Jeanie Buss to Stay?
Though the Buss family is selling their majority stake, Jeanie Buss is expected to remain involved with the team in a leadership role. She is respected around the league and loved by players and fans alike. Her continued presence might offer some comfort to those worried about big changes under new ownership.
Walter is known for taking a team-first approach and giving leaders space to operate. That could mean Jeanie stays hands-on while Walter handles the business side.
