Dodgers co-owner Mark Walter acquires majority of the Lakers in a record $10B deal, while Jeanie Buss remains team governor under the family trust.
LOS ANGELES (Updated as of June 19, 2025) – The Los Angeles Lakers, one of the NBA’s most storied franchises, is undergoing a historic change in ownership. While not a full sale, the Buss family has agreed to sell a majority stake in the team to billionaire investor and Dodgers co-owner Mark Walter—at a reported franchise valuation of $10 billion.
If approved by the NBA Board of Governors, the transaction would mark the most expensive sale in U.S. professional sports history, surpassing the $6.05 billion price tag for the Boston Celtics earlier this year.
Jeanie Buss, daughter of late Lakers owner Dr. Jerry Buss, will retain her role as team governor and continue to hold a significant minority stake through the family trust. This arrangement ensures her ongoing leadership role despite the shift in control.
Walter, a longtime minority owner of the Lakers, is widely known for his role in transforming the Los Angeles Dodgers. As CEO of Guggenheim Partners, he led the 2012 acquisition of the Dodgers for $2 billion. He also co-owns Chelsea Football Club and holds investments in women’s sports, including the WNBA’s Los Angeles Sparks.
NBA legend and current Dodgers stakeholder Magic Johnson voiced support for the deal.
“Mark understands what the Lakers mean to the city and to basketball,” Johnson posted on X. “His respect for legacy and his winning mentality make him the right person to take the reins.”
The transaction received majority approval from members of the Buss family trust, though it’s unclear whether the vote was unanimous. Under the terms, Jeanie Buss retains operational control and remains the franchise’s public figurehead.
NBA approval is pending, and a decision is expected in the coming weeks. The deal signals a significant power shift in Los Angeles sports, consolidating control of two of the city’s most iconic franchises—Dodgers and Lakers—under Walter’s leadership.
Despite public speculation about a complete sale, the agreement reflects a more balanced outcome: Jeanie Buss remains the Lakers’ top executive, and the Buss family continues to hold a minority interest.
THE LAKERS AND THE BUSS FAMILY LEGACY
The Lakers are one of the most successful and recognizable franchises in professional sports. Founded in 1947 as the Minneapolis Lakers, the team moved to Los Angeles in 1960 and has since won 17 NBA championships—tied with the Boston Celtics for most in league history.
The franchise has been home to basketball legends including Jerry West, Magic Johnson, Kareem Abdul-Jabbar, Shaquille O’Neal, Kobe Bryant, and LeBron James. Known for its dominance, glamour, and cultural impact, the team has long been a cornerstone of L.A. identity.
The Buss family’s ownership began in 1979, when Dr. Jerry Buss purchased the Lakers as part of a $67.5 million deal. His leadership ushered in the famed “Showtime” era of the 1980s and produced ten championships under his watch. Following his passing in 2013, the team was placed into a family trust. His daughter, Jeanie Buss, assumed the role of controlling owner in 2017 and became the first female governor of an NBA championship team when the Lakers won the 2020 title.
The Walter deal marks the first time a majority stake in the Lakers will leave the Buss family’s control, but Jeanie Buss’s continued involvement reflects a conscious effort to preserve the legacy even amid transformation.
