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Buss Family Entering Agreement To Sell Majority Ownership Of Lakers To Mark Walter

Originally posted on Hoops Wire | By Ashish Mathur | Last updated Jun 18, 2025 5:24 PM ET

According to Shams Charania of ESPN, the Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global.

Jeanie Buss will continue to serve in her role as Governor after the sale.

BREAKING: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN. Jeanie Buss will continue to serve in her role as Governor after the sale. pic.twitter.com/1Da6LDD7TJ

— Shams Charania (@ShamsCharania) June 18, 2025

Jerry Buss bought the Lakers from Jack Kent Cooke in 1979 for $67.5 million.

Los Angeles has won 17 championships in franchise history. Only the Boston Celtics (18) have won more.

The Lakers are currently led by head coach JJ Redick and All-Stars Luka Doncic and LeBron James. The purple and gold won the 2020 championship against the Miami Heat at the Walt Disney World bubble behind James and Anthony Davis.

Los Angeles was the third seed in the West this year. The team lost to the Minnesota Timberwolves in the first round of the playoffs in five games.

After playing for the Cleveland Cavaliers from 2014-15 to 2017-18, James signed with the Lakers in the summer of 2018 as an unrestricted free agent.

Los Angeles missed the playoffs in 2019, won the championship in 2020, lost in the first round of the 2021 playoffs, missed the playoffs in 2022, lost in the conference finals in 2023 and lost in the first round of the 2024 and 2025 playoffs.

This article first appeared on Hoops Wire and was syndicated with permission.

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