Walter Approved as Lakers Majority Owner

The NBA Board of Governors has approved Mark Walter as the majority owner of the Los Angeles Lakers after he agreed to buy a controlling stake from the Buss family, with the transaction expected to close shortly. The deal values the franchise at about $10 billion, a record valuation for a professional sports team. Walter, CEO of Guggenheim Partners and owner of the Los Angeles Dodgers and WNBA’s Sparks, previously held a 27% minority stake acquired in 2021 and is a principal in TWG Global/Cadillac F1. Jeanie Buss will remain the team’s governor and continue to oversee day-to-day operations for at least five years, and the Buss family will retain a minority interest. The unanimous board approval and endorsements from league officials mark a major ownership shift for the franchise long linked to the Buss family since Jerry Buss bought the team in 1979.