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Los Angeles Lakers' $10 bn sale sets new record; Buss family exits NBA
After 45 years at the helm, the Buss family has agreed to sell its majority stake in the Los Angeles Lakers to Mark Walter, CEO of TWG Global and Guggenheim Partners, for a record-setting $10 billion, The New York Times reported. Jerry Buss bought the club in 1979 for $67.5 million. Under the family's stewardship, the Lakers bagged 11 NBA titles and showcased legends such as Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, Shaquille O'Neal and LeBron James.
Jeanie Buss will keep a minority stake and remain team governor, a role she assumed after her father's death in 2013, preserving continuity in day-to-day leadership.
Walter's expanding sports portfolio
He first bought into the Lakers in 2021, and this cemented his position at the centre of Southern California's sporting landscape. Walter's tenure with the Dodgers — marked by record payrolls and regular World Series runs — signals his willingness to invest aggressively in success.
How the deal set a new benchmark
The $10 billion price tag eclipses every prior franchise sale, topping the Boston Celtics' $6.1 billion transaction and the NFL Washington Commanders' $6.05 billion deal earlier this year, The New York Times reported.
Several forces pushed the valuation so high:
Global brand power – A historic 17-title resume and worldwide fan base
Los Angeles market – The USA's second-argest media hub, rich in sponsorship and merchandising upside
Soaring media rights – The NBA's new 11-year, $77 billion broadcast agreement inflates future revenue streams
Ownership stability – Walter's investment track record combined with Jeanie Buss's continued presence reassures partners and fans alike.
What it means for the Lakers — and the NBA
The sale resets expectations for franchise values across every major league. For the Lakers, it blends fresh capital with institutional memory: Walter's ambition plus the Buss family's legacy. Magic Johnson, who has ties to both the Lakers and the Dodgers, congratulated the incoming lead owner and highlighted their shared 'commitment to winning and investing in success'.
The transaction underscores the enduring attraction of iconic sports assets in a global marketplace. With new resources and steady leadership, the Lakers appear positioned to stay on the NBA's cutting edge for years to come.
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