The Buss family, synonymous with Lakers glory for nearly half a century, has agreed to sell a majority stake in the team to billionaire Mark Walter, owner of the Los Angeles Dodgers and co-owner of Chelsea FC.

The deal, reportedly valuing the Lakers at an unprecedented $10 billion, marks the largest sale in NBA and U.S. sports history.

Mark Walter: Lakers’ new owner

Mark Walter’s arrival as the Lakers’ new controlling owner signals a new era for the purple and gold. Walter, whose sports portfolio already includes the Dodgers, the WNBA’s Los Angeles Sparks, and a stake in Chelsea FC, is no stranger to building championship-caliber organizations.

According to The Guardian and ESPN, Walter has been a minority stakeholder in the Lakers since 2021, when he purchased a 27% share from AEG’s Phil Anschutz. That deal included a right of first refusal, paving the way for this historic takeover.

Walter’s reputation as a hands-on, forward-thinking owner precedes him. Under his leadership, the Dodgers have consistently been among MLB’s elite, and his investment in Chelsea FC has helped stabilize one of England’s most high-profile clubs.

With the NBA’s recent $77 billion media rights deal and the league’s global popularity at an all-time high, Walter’s acquisition puts the Lakers at the forefront of a new financial era in professional basketball.

The Buss family’s enduring legacy

The sale officially closes the book on the Buss family’s majority control, a tenure that began when Dr. Jerry Buss purchased the Lakers in 1979 for just $67.5 million—a sum that included the Forum and the NHL’s Kings.

In the decades that followed, the Lakers became a global brand, winning 11 NBA championships and transforming into a symbol of Hollywood glitz and basketball greatness.

Jeanie Buss, who took over as team governor after her father’s passing in 2013, will remain in her executive role and retain a significant minority stake, as required by NBA rules. Sources from The Athletic and Bleacher Report confirm that Jeanie’s continued involvement was a condition of the sale, ensuring stability and continuity as the franchise transitions to new ownership.

The Buss family’s impact on the Lakers cannot be overstated. From the “Showtime” era to the Kobe and Shaq dynasty, and the recent LeBron-led championship, the Buss name is etched into the league’s lore.

What is next for the Lakers?

For Lakers fans, this transition is bittersweet. The franchise is entering a new phase, but with Mark Walter’s proven track record and Jeanie Buss still at the helm, optimism remains high.

Walter’s deep pockets and commitment to winning could usher in fresh investment and innovation, while Jeanie’s leadership offers reassurance that the team’s culture and legacy will be respected.

As the NBA landscape evolves, the Lakers are poised to remain a marquee franchise—one ready to chase more banners under a new, ambitious owner. The Buss era may be ending, but the Lakers’ pursuit of greatness continues.