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Buss family sells majority ownership of Lakers

Originally posted on Ball Exclusives | By Titan Frey | Last updated Jun 18, 2025 7:35 PM ET

The unthinkable has happened in the NBA. Jeanie Buss and the Buss family have sold their majority ownership of the Los Angeles Lakers.

The Buss family is entering an agreement to sell majority ownership of the Lakers to Mark Walter, who also owns the Dodgers, per @ShamsCharania

Jeanie Buss will continue to serve in her role as Governor after the sale pic.twitter.com/UncPhvM4fR

— Bleacher Report (@BleacherReport) June 18, 2025

Jerry Buss bought the Los Angeles Lakers in 1979 and immediately turned things around for the franchise. Not only did he put his money on winning coaches and players, he pushed forward cheerleaders, using them in a different way than had been seen before in professional basketball.

The Buss family continued to run the Lakers, even after Jerry died in 2013. Now, breaking news has stated that the Buss family has sold their majority stake in the team to Mark Walter, the CEO of diversified holding company TWG Global.

Despite the historic sale of majority ownership, Jeanie will continue to act as the Lakers’ governor.

Historic sale

In 1979, Jerry Buss bought the Los Angeles Lakers for $67.5 million. Today, the Buss family sold their majority stake in the Lakers for approximately $10 billion.

This makes the sale of the Lakers the largest ever for a United States professional sports team. New owner Mark Walter also has ownership in the Los Angeles Dodgers and the Los Angeles Sparks.

What will this new era of ownership bring to the Los Angeles Lakers?

This article first appeared on Ball Exclusives and was syndicated with permission.

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