The sports world is witnessing history. After more than four decades of ownership, the Buss family has agreed to sell its controlling stake in the legendary Los Angeles Lakers to billionaire investor Mark Walter. The deal, which values the NBA franchise at a staggering $10 billion, marks the most expensive sale in the history of professional sports.
This momentous shift not only ends an iconic era in Lakers history but also signals a new chapter under the leadership of a proven sports investor. Here’s a deep dive into what this deal means for the franchise, the NBA, and the world of sports ownership.
🔶 The End of an Iconic Era
The Lakers are more than just a basketball team—they’re a dynasty. Since Dr. Jerry Buss purchased the team in 1979 for just $67.5 million, the franchise has won 11 NBA championships, produced some of the greatest legends in the game, and become a global brand synonymous with excellence, glamour, and dominance.
Under the leadership of Jeanie Buss, Jerry’s daughter, the team continued to uphold its legacy. Her stewardship saw the Lakers return to championship form in 2020 with the dynamic duo of LeBron James and Anthony Davis. However, the shifting economics of the NBA, rising franchise valuations, and strategic business considerations likely influenced the family’s decision to sell.
💰 The $10 Billion Deal – What We Know
The controlling stake, believed to be approximately 66%, has been sold to Mark Walter, a financial powerhouse and co-founder of Guggenheim Partners. Walter already held a minority stake (reportedly around 27%) since 2021 and had a first-right-of-refusal clause, which he’s now executed.
The deal values the Lakers at $10 billion, shattering previous records:
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The Washington Commanders (NFL) sold for $6.05 billion in 2023
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The Phoenix Suns (NBA) were sold for $4 billion in 2022
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The Boston Celtics were valued at $6.1 billion earlier this year
This deal doesn’t just break records—it sets a new gold standard for sports franchise valuations.
🧑💼 Who is Mark Walter?
Mark Walter isn’t new to the sports world. He’s the CEO of Guggenheim Partners, which manages over $325 billion in assets. More notably, he is the principal owner of the Los Angeles Dodgers, who won the World Series under his leadership in 2020.
Walter also has stakes in:
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Chelsea FC (Premier League, UK)
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Los Angeles Sparks (WNBA)
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Professional Women’s Hockey League (PWHL)
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Cadillac Formula 1 Team
His track record reflects a strong commitment to sports excellence, investment in player development, and enhancing fan experience. By acquiring majority control of the Lakers, he solidifies his status as one of the most influential figures in global sports ownership.
👑 What Happens to Jeanie Buss?
While the Buss family is stepping back from majority control, Jeanie Buss will remain as team governor, retaining around 15% ownership. This ensures continuity in leadership and respects the NBA’s requirement that teams have a clearly defined controlling governor.
Jeanie has expressed confidence in the transition, stating that Walter shares the Buss family’s vision for excellence and community impact. Her continued involvement ensures a respectful passing of the torch rather than a complete regime change.
🎤 Magic Johnson Reacts
No Lakers news would be complete without input from Magic Johnson, the team’s most iconic player and a former executive. Johnson endorsed the sale, calling it a “smart move” that “respects the Lakers’ legacy while preparing the franchise for the future.”
He praised both Jeanie Buss for her leadership and Mark Walter for his commitment to winning and building championship-level organizations.
🏀 What This Means for the NBA
The Lakers sale has broad implications for the NBA:
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Franchise Valuations Will Rise:
The $10 billion price tag resets the market. Expect other owners to reevaluate their franchises’ worth, and future buyers to face steeper price tags. -
More Institutional Investors:
With hedge funds, private equity, and investment firms looking to diversify, big-league sports are becoming hot commodities. -
NBA Expansion or Global Moves?
With new leadership and deep-pocketed investors, the Lakers could lead pushes into new international markets or tech innovations in fan engagement.
🌍 A New Chapter for Lakers Nation
This isn’t the first time the Lakers have undergone a major shift, but this one feels especially monumental. The Buss family was synonymous with Showtime, Kobe & Shaq, and the 2020 bubble championship. Now, the franchise enters a new era—one likely focused on business expansion, global brand growth, and modernized team operations.
Fans should expect continuity in the short term. Coach Darvin Ham, General Manager Rob Pelinka, and superstar players like LeBron James (if he re-signs) and Anthony Davis will continue to define the Lakers’ on-court presence.
But behind the scenes, a new philosophy may emerge—one shaped by data, long-term financial planning, and the vision of a multi-sport owner with global ambitions.
🚀 Conclusion: Legacy Meets the Future
The sale of the Lakers is more than just a financial transaction—it’s a passing of the torch. The Buss family’s 46-year legacy is secure, etched in NBA history with rings, banners, and unforgettable moments. Now, Mark Walter takes the reins of one of the most prestigious franchises in all of sports.
Only time will tell how this next era unfolds, but one thing is certain: Lakers fans are witnessing history, and the world will be watching closely as the purple and gold step into the future.