Buss family to sell Lakers for record-setting sum

Jeanie Buss. Jayne Kamin-Oncea-Imagn Images

Buss family to sell Lakers to Mark Walter for record-setting sum

Originally posted on Hoops Rumors | By Rory Maher | Last updated Jun 18, 2025 5:33 PM ET

The Buss family has reached an agreement to sell its majority stake in the Lakers to Mark Walter, sources tell Shams Charania of ESPN.

Walter has agreed to buy the Lakers at a valuation of approximately $10 billion, the largest sum ever for a professional sports team, Charania reports.

Walter, 65, is the CEO and chairman of TWG Global, a diversified holding company.

Walter, who also owns the Los Angeles Dodgers (MLB) and Los Angeles Sparks (WNBA), among sports investments, is currently a minority owner of the Lakers, having purchased a 27% stake in 2021 alongside Todd Boehly.

According to Charania, current governor Jeanie Buss will continue to serve in that role after the sale is finalized.

As Ramona Shelburne of ESPN reports, Walter earned the right of first refusal to purchase majority control of the Lakers in 2021 when he bought his minority stake. The Buss family owns about 66% of the team, per Shelburne.

Longtime owner Jerry Buss purchased the Lakers for $67.5M back in 1979, according to Charania, who notes that his children inherited majority control when Buss died in 2013.

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

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