Mark Walter Set to Become Lakers Majority Owner

The NBA Board of Governors unanimously approved the majority sale of the Los Angeles Lakers to billionaire Mark Walter in a transaction valued at about $10 billion that is expected to close shortly, making it the largest sale of a professional sports franchise. Under the agreement, the Buss family will retain a minority stake of roughly 15% and Jeanie Buss will remain the team’s governor for at least five years, continuing to oversee day-to-day operations. League and team statements emphasized continuity and high expectations for Walter to preserve the Lakers’ on-court competitiveness and global brand. Walter, who runs TWG Global and holds stakes in other sports properties, said he looks forward to working alongside Jeanie Buss to maintain the franchise’s legacy.