In what might be the biggest bombshell in sports this year, the LA Lakers are being sold in a jaw-dropping $10 billion deal.
The iconic NBA team, owned by the Buss family for over four decades, is officially changing hands, and fans are stunned. This sale marks the highest price ever paid for a professional sports team in the world, topping even the most lucrative team takeovers in recent memory.
The new owner? None other than Mark Walter, the billionaire behind the LA Dodgers and CEO of holding company TWG Global. Walter already has a serious sports empire, he owns the Dodgers, has stakes in the Los Angeles Sparks, the Billie Jean King Cup, and even international teams like the Premier League’s Chelsea. His portfolio also includes the Cadillac F1 team and the Professional Women’s Hockey League. Now, he’s adding the LeBron James-led Lakers to his growing roster.
But Jeanie Buss isn’t walking away completely. She’ll remain the team’s governor, even as the majority stake passes to Walter. She’s been the face of the Lakers’ front office since 2013, after her father, Jerry Buss, passed away. The late Buss had originally bought the Lakers, the LA Kings, and the LA Forum for just $67.5 million back in 1979. Adjusted for inflation, that would be about $315 million today, still nowhere near the insane $10 billion figure that just closed the deal.
The Buss family has left a legacy that includes seven NBA championships, legendary dynasties led by Kobe Bryant, Shaquille O’Neal, Magic Johnson, and Kareem Abdul-Jabbar, and even a Hollywood-style retelling of their story in HBO’s Winning Time. Jeanie Buss herself made history by becoming the first woman to lead an NBA team to a title, and her tenure has been praised for its leadership and resilience.
NBA insider Shams Charania pointed out how this sale dwarfs other recent deals. Mark Cuban’s majority sale of the Mavericks went for $3.5 billion. Wyc Grousbeck’s Celtics deal landed at $6.1 billion. Jeanie Buss just blew those numbers out of the water with this record-breaking deal.
Interestingly, Mark Walter has been in the Lakers mix since 2021, when he bought a stake in the franchise. At the time, he was also given the right of first refusal should the majority ownership ever go up for sale. It looks like he exercised that right, and fans can now expect a new era for one of basketball’s most storied franchises.
Social media lit up with reactions. Lakers fans called it a “historic day,” while others highlighted how deep Walter’s pockets are. “Mark Walter owns the Dodgers. One of the biggest spenders in baseball,” one user posted. “I’d imagine this is a good thing for the future of the Lakers too. Deep pockets in LA now for the Luka Dončić era.”
While the Buss family’s ownership of the Lakers is coming to a close after 46 iconic years, this deal signals a massive power shift in NBA ownership. With a $10 billion valuation and an owner known for aggressive investment in talent, the Lakers may just be gearing up for another dynasty.
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