Lakers Majority Stake Sold to Mark Walter for Record $10 Billion

The Los Angeles Lakers' majority ownership has been sold by the Buss family to Mark Walter for a record-setting $10 billion, marking the largest sale of a U.S. professional sports franchise. Jeanie Buss, who will remain the Lakers' governor and oversee day-to-day operations, expressed confidence in Walter, praising him as an excellent partner who shares the Buss family's values of winning with passion and style. Walter, already a minority owner of the Lakers since 2021 and the primary owner of the Los Angeles Dodgers, brings a proven track record of success and resources to the franchise. The sale is expected to close in the latter half of 2025, ending nearly 50 years of Buss family ownership since Jerry Buss purchased the team in 1979. Despite a disappointing playoff exit in the 2024-25 season, the Lakers hope Walter's leadership will usher in a new era to maximize the potential of stars like Luka Doncic and LeBron James. The Buss family remains honored by their legacy and optimistic about the future under Walter's stewardship.