May 12, 2021; Los Angeles, California, USA; Los Angeles Lakers president Jeanie Buss speaks before the reveal of the 2020 champions banner at Staples Center. Mandatory Credit: Gary A. Vasquez-Imagn Images Gary A. Vasquez-Imagn Images

Sparks' Owner Mark Walter Acquires Majority Ownership of Lakers From Buss Family

Originally posted on Los Angeles Sparks on SI
By Ben Geffner | Last updated Jun 18, 2025 5:57 PM ET

Mark Walter has agreed to purchase a majority ownership stake of the Los Angeles Lakers from the Buss family for approximately $10 billion — the largest-ever sale of a U.S. professional sports franchise, per ESPN.

Jerry Buss bought the Lakers for $67.5 million in 1979 before passing down control of the franchise to his children when he passed away in 2013.

Walter has been a Lakers minority stakeholder since 2021 and has ownership in other professional sports organizations including the MLB's Los Angeles Dodgers and WNBA's Los Angeles Sparks.

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Johnson echoed support for Walter in a recent X post following the blockbuster Lakers transaction.

Mark Walter is the best choice and will be the best caretaker of the Laker brand," Johnson said. "The proof is in the pudding on what he’s been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner notching 2 World Series and 11 NL West divisional titles in the last 12 years!

"Laker fans should be estatic. A few things I can tell you about Mark - he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win!" he continued. "I can understand why Jeanie sold the team to Mark Walter because they are just alike - they are competitive people."

This article first appeared on Los Angeles Sparks on SI and was syndicated with permission.

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