Left: Mark Walter, CEO of Guggenheim Partners and co-owner of the Los Angeles Dodgers. Walter is now acquiring a majority stake in the Lakers in a record-setting $10 billion deal. (Photo from www.mlb.com)
Right: Jeanie Buss, governor and president of the Los Angeles Lakers will remain the team’s public leader and retain a minority stake after the sale of the majority interest to Dodgers co-owner Mark Walter. (Photo from www.nba.com)
The landmark deal, which still requires final approval from the NBA Board of Governors, would mark the highest price ever paid for a U.S. professional sports franchise. The current record of $6.05 billion was set earlier this year with the sale of the Boston Celtics.
Walter, 65, is no stranger to the Lakers. In 2021, he and fellow Dodgers co-owner Todd Boehly acquired a 27 percent minority stake in the franchise from Philip Anschutz for approximately $1.35 billion. That transaction, approved by the NBA at the time, included a right of first refusal clause—giving Walter the first opportunity to purchase majority ownership should the Buss family decide to sell. That strategic position paved the way for this year’s transition.
Jeanie Buss, daughter of the late Lakers owner Dr. Jerry Buss, will remain the team’s governor and retain a significant minority stake along with other members of the Buss family trust. The move ensures continuity in day-to-day leadership even as control shifts.
“This isn’t the end of the Buss family’s connection to the Lakers—far from it,” a source familiar with the agreement told ESPN. “Jeanie will continue to play a central role in shaping the team’s future.”
Walter, a longtime figure in Los Angeles sports, first rose to prominence in 2012 when he led Guggenheim Baseball Management’s record-setting $2.15 billion purchase of the Los Angeles Dodgers. Under his stewardship, the Dodgers became a model franchise, capturing World Series titles in 2020 and 2024 and developing one of the league’s deepest farm systems. His leadership style—patient, empowering, and data-driven—has drawn praise throughout professional sports.
In addition to the Dodgers and now the Lakers, Walter is a co-owner of Chelsea Football Club and RC Strasbourg in European football. He also holds ownership stakes in the WNBA’s Los Angeles Sparks and the Professional Women’s Hockey League. Through his firm TWG Global, Walter has invested in ventures spanning motorsports, artificial intelligence, and conservation initiatives.
Reaction to the Lakers deal has been largely positive within the NBA and across Los Angeles. Magic Johnson, a Lakers legend and current Dodgers stakeholder, praised Walter’s leadership and business record.
“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 sale was reportedly approved by a majority of the Buss family trust members, though it has not been confirmed whether the vote was unanimous. Under the agreement, Jeanie Buss retains operational control and will continue as the public face of the team.
NBA approval is expected in the coming weeks, with final terms to be settled at the league’s upcoming board meeting in Las Vegas.
Despite rumors suggesting the Lakers were completely sold off, the facts point to a more nuanced reality: the Buss family remains involved, and the franchise’s leadership—at least for now—remains steady.
