The NBA Board of Governors on Thursday officially approved the sale of a majority ownership stake in the Los Angeles Lakers to Mark Walter, marking one of the highest-valued franchise transactions in the history of American sports. The deal, estimated at approximately $10 billion, transfers controlling interest from the Buss family to Walter while still preserving the Buss family’s active role in team leadership.
Walter, the CEO of Guggenheim Partners and co-owner and chairman of the Los Angeles Dodgers, assumes control of the Lakers at a time of renewed organizational ambition and roster transformation. The Dodgers, under Walter’s leadership, have become a consistent postseason contender and are currently competing in the World Series.
In a statement released shortly after the league’s announcement, Walter expressed both reverence for the franchise and optimism for the future.
“The Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence and the relentless pursuit of greatness,” Walter said. “Few teams carry the legacy and global influence of the Lakers, and it’s a privilege to work alongside Jeanie Buss as we maintain that excellence and set the standard for success in this new era, both on and off the court.”
The acquisition aligns with a period of significant change for the Lakers, who earlier this year acquired superstar Luka Dončić in one of the most consequential trades in recent NBA memory. Dončić’s arrival has already reshaped the organization’s direction. He has reportedly played a vocal role in offseason personnel decisions, which included the signings of center Deandre Ayton and defensive standout Marcus Smart.
NBA Commissioner Adam Silver praised Walter’s long-standing relationship with the league and confidence in his leadership.
“Mark Walter has a long association with our leagues, having served as a minority owner of the Lakers and as the principal owner of the WNBA’s Sparks for more than a decade,” Silver said. “As Mark assumes his role as majority owner of the Lakers, I have no doubt that he will be a committed steward of the team and a great addition to our league given his many successful ventures in business and sports.”
The Buss family, which purchased the Lakers in 1979 under the late Dr. Jerry Buss, will retain a minority ownership stake. Jeanie Buss, who has served as Governor and controlling owner since 2017, will continue in that role for at least the next five years under the terms of the agreement.
The sale one of the largest franchise valuations in professional sports history signals both continuity and transition. While the Buss legacy remains embedded in the organization’s culture, Walter’s majority stake ushers in a new era marked by ambitious roster-building and expanded business strategy.
The Lakers enter this next chapter with both historical weight and renewed competitive urgency, aiming to reclaim championship contention in a league defined by evolving star dynamics and increasing global visibility.