Feb 10, 2025; Los Angeles, California, USA; Owner and president of the Los Angeles Lakers Jeanie Buss attends the game against the Utah Jazz at Crypto.com Arena. Mandatory Credit: Jayne Kamin-Oncea-Imagn Images Jayne Kamin-Oncea-Imagn Images

Jeanie Buss Breaks Silence on Lakers’ Groundbreaking Franchise Sale

Originally posted on Los Angeles Lakers on SI
By Ryan Stano | Last updated Jun 25, 2025 12:02 PM ET

NBA fans were surprised that Jeanie Buss decided to sell the Los Angeles Lakers seemingly out of nowhere. Those who follow the team closely weren't as shocked.

Buss sold the Lakers to Mark Walter for a $10 billion valuation. He already owned part of the team, so he didn't have to pay the full $10 billion freight that the team was valued at.

Buss is supposed to be the governor of the team after the sale, so it'll be interesting to see how long that lasts. For the first time since the sale, Buss has talked about it.

Buss released a statement, which was shared on social media. Based on the statement, it looks like the sale will close in the second half of the year.

First official comments from Jeanie Buss and Mark Walter on the sale of the Lakers, which they say will close in the third or fourth quarter of 2025 pic.twitter.com/8uqG9uBKvb
— Dan Woike (@DanWoikeSports) June 25, 2025

"The Buss family is deeply honored to have looked after this incredible organization for almost half a century. From the day our father purchased the Lakers, we have been determined to deliver what the city of Los Angeles deserves and demands: a team that is committed to winning -relentlessly-, and doing so with passion and style."

Buss will be the governor of the team "for the foreseeable future", which is an ambiguous timeline. Those timelines always get a little wonky when there is an ownership change.

The Lakers are still leaving Buss in charge of some moves, along with Rob Pelinka. How long that lasts might be determined on the amount of success that the team has in the next few years.

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The Lakers are hoping to win a championship in the next couple of years. That might keep Pelinka and Buss with a job for a little bit longer. Pelinka's job is more in jeopardy, though.

Despite the fact that Pelinka was able to trade for Luka Doncic, he might not have a lock on his job in the next few years. That's always the question when a new owner takes over.

Buss doesn't have any other businesses that she runs, so she wants to stay with the Lakers for as long as she can.

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This article first appeared on FanNation All Lakers and was syndicated with permission.

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