The Buss family has agreed to sell its majority ownership stake in the Los Angeles Lakers to TWG Global CEO Mark Walter, according to sources that spoke to ESPN’s Shams Charania. Jeanie Buss, the daughter of Jerry Buss and the current owner of the Lakers, will continue to serve as the Lakers’ governor.
Walter is entering an agreement to purchase the Lakers from Buss Family Trusts, the trust established by the late Jerry Buss to manage the family’s ownership stake in the franchise, for $10 billion. Once completed, it will be the most expensive sale of a professional sports franchise ever.
Walter had already held an ownership stake in the Los Angeles Lakers. Back in 2021, Walter and frequent co-investor Todd Boehly acquired a 27% stake in the Lakers from Philip Anschutz for an estimated $1.35 billion. At the time of the acquisition, Walter was given the right of first refusal if the Buss Family ever decided to sell the team to an outside investor.
Shams: Mark Walter’s purchase of Lakers evaluated at approximately $10 billion.
Largest sale of a professional sports franchise in the world.
— Underdog NBA (@UnderdogNBA) June 18, 2025
Walter already owns several professional sports franchises and organizations, including the Los Angeles Dodgers and the Los Angeles Sparks WNBA team. On top of that, he has ownership stakes in the Billie Jean King Cup women’s tennis team, the Cadillac Formula One team, and the Professional Women’s Hockey League.
In 1979, Jerry Buss purchased the Los Angeles Lakers, the Los Angeles Kings, the Kia Forum, and a 13,000-acre ranch from Jack Kent Cooke for $67.5 million, which equates to roughly $298.8 million in 2025. Buss served as the Lakers’ owner and governor until he died in 2013. After he passed away, his 66% stake in the franchise was divided evenly amongst his six children, while his daughter Jeanie Buss took over his role as the team’s governor.
The Los Angeles Lakers have been one of the most successful professional sports organizations in the world under the Buss Family. From 1979 to 2025, the Lakers advanced to the NBA Finals 17 times, resulting in 11 NBA Championships victories.
