When Los Angeles Lakers general manager Rob Pelinka and the front office made the bold move to trade for Luka Doncic at the trade deadline, it signaled a major shift in the franchise’s long-term vision—cementing Doncic as the cornerstone for the next decade.
That said, few could have predicted what unfolded on Wednesday, when the Buss family—most notably Jeanie Buss—made the stunning decision to sell a majority stake in the organization to Mark Walter, CEO of TWG Global and owner of the Los Angeles Dodgers, in a deal valued at an astounding $10 billion.
While Jeanie is expected to retain her role as Governor following the sale, the move marks a monumental change for a franchise that has been family-run since 1979, when her father, Dr. Jerry Buss, purchased the team and transformed it into one of the most prestigious and valuable franchises in the world. The sale is now the largest in history for any sports franchise worldwide.
On Thursday morning, just hours after the news broke, Lakers superstar Luka Doncic officially broke his silence and shared his thoughts in a post on social media.
"The Lakers are an amazing organization," Doncic wrote. "I’m looking forward to meeting Mark and excited about the future. I am also grateful to Jeanie and the Buss family for welcoming me to LA, and I’m happy that Jeanie will continue to be involved. I look forward to working with both of them to win championships!"
The Lakers are an amazing organization. I’m looking forward to meeting Mark and excited about the future. I am also grateful to Jeanie and the Buss family for welcoming me to LA, and I’m happy that Jeanie will continue to be involved. I look forward to working with both of them…
— Luka Doncic (@luka7doncic) June 19, 2025
Doncic is eligible for a long-term extension this offseason. He can agree to a three-year, $160 million extension after the NBA Finals. However, if he wants to sign a four-year deal, he’ll have to wait until Aug 2, when he becomes eligible for a four-year, $229 million contract.
The Buss family continued to operate the organization in a particular way—one that, while successful for decades, was no longer functioning at its highest potential in today’s evolving NBA landscape.
Bringing in Mark Walter offers a fresh perspective and the resources needed to help the Lakers reach new heights.
Former Lakers legend and executive Magic Johnson—who was drafted in 1979, the same year the Buss family purchased the team—weighed in on the sale. As a minority owner of the Dodgers and someone who knows Walter well, Johnson said Lakers fans should be “ecstatic” about the news.
"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!" Johnson said. "I can understand why Jeanie sold the team to Mark Walter because they are just alike - they are competitive people, l have big hearts, love to give back, and both prefer to be behind the scenes. This makes all the sense in the world. I am so so SO happy and excited for @Lakers fans all over the world!!"
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