Breaking: The Los Angeles Lakers Are Being Sold
Breaking: The Los Angeles Lakers Are Being Sold originally appeared on The Spun.
The Los Angeles Lakers, one of the most valuable franchises in all of professional sports, are being sold.
ESPN NBA insider Shams Charania reported on Wednesday afternoon, June 18, that the Los Angeles Lakers are being sold by the Buss family. The Buss family have been the majority owners of the Los Angeles Lakers since Dr. Jerry Buss bought the team in 1979. He helped turn the Lakers into the most valuable team in the NBA and one of the most popular professional sports teams in the entire world.
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However, on Wednesday afternoon, the Lakers finalized a decision to sell a majority share of the team to Mark Walter, the CEO and chairman of diversified holding company TWG Global.
Charania broke the news on X, formerly known as Twitter, on Wednesday afternoon.
Los Angeles Lakers guard Luka Doncic (77) celebrates with forward LeBron James (23) after making a basket.Jason Parkhurst-Imagn Images
Charania reports that Jerry Buss' daughter, Jeanie, will continue to serve as Governor of the Lakers following the sale. However, as we saw with Mark Cuban selling the Mavericks - and promptly watching the team trade Luka Doncic - it's unlikely that she'll continue to have a prominent voice in the decision making. We'll have to see what happens, though.
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"BREAKING: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN. Jeanie Buss will continue to serve in her role as Governor after the sale," Charania reported on Wednesday afternoon.
An official announcement is expected soon.
Breaking: The Los Angeles Lakers Are Being Sold first appeared on The Spun on Jun 18, 2025
This story was originally reported by The Spun on Jun 18, 2025, where it first appeared.
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