Jeanie Buss breaks silence on record-breaking $10 billion Lakers sale as timeline becomes clear
Buss released a statement Wednesday discussing the agreement to sell majority ownership of the Lakers to businessman Mark Walter and explained why he is an 'excellent partner' to continue the team's legacy.
'The Buss family is deeply honored to have looked after this incredible organization for almost half a century,' the statement said. 'From the day our father purchased the Lakers, we have been determined to deliver what the City of Los Angeles deserves and demands: a team that is committed to winning – relentlessly – and to doing so with passion and with style.
Advertisement
4 Jeanie Buss arrives at the Los Angeles Official Emmy FYC Red Carpet for 'Running Point' at UCLA Health Training Center on May 30, 2025 in El Segundo, California.
FilmMagic
'I have gotten to know Mark very well over time and been delighted to learn how he shares those same values. For the last four years, Mark has been an excellent partner to us, and we are thrilled to keep working with him to continue the Lakers' extraordinary legacy.'
The ownership sale between her family and Walter is expected to close in the third or fourth quarter (July-December) of 2025, per the statement.
Advertisement
Walter — who has been a minority owner of the Lakers since 2021 — is also the primary owner of the Dodgers and the CEO of TWG Global, a multinational conglomerate holding company.
The entrepreneur and philanthropist has ownership interests in several professional sports teams and organizations — including the WNBA's Los Angeles Sparks, the Billie Jean King Cup, the new Cadillac Formula 1 Team and the Professional Women's Hockey League (PWHL).
4 Lakers owner Jeanie Buss and husband Jay Mohr attend the game against the Minnesota Timberwolves at Crypto.com Arena on April 19, 2025.
Jayne Kamin-Oncea-Imagn Images
Buss is still expected to remain governor of the franchise and continue to oversee all team operations on a day-to-day basis for the foreseeable future.
Advertisement
The Buss family, which won 11 NBA titles across 46 years of ownership, issued their statement a week after the sale was first reported by ESPN.
Jeanie took over as the Lakers' governor after her father, Jerry Buss, died in 2013, and left the franchise to his six children.
4 Mark Walter is taking over as the Lakers' majority owner.
Getty Images for Los Angeles Dodgers Foundation
Jerry purchased the franchise from Jack Kent Cooke for $67.5 million in 1979.
Advertisement
Lakers legend and former part-owner Magic Johnson congratulated Jeanie on 'striking an incredible deal' and praised Walter, his business partner and friend.
The sale came after the Lakers orchestrated arguably the biggest midseason trade in NBA history, acquiring All-NBA guard Luka Doncic from Dallas in February.
4 Lakers forward LeBron James (23) during Game 5 of the first round of the 2025 NBA Playoffs at Crypto.com Arena on April 30.
IMAGN IMAGES via Reuters Connect
After securing the No. 3 seed in the West, the Lakers' season ended at the hands of Timberwolves in first round of the 2025 NBA playoffs in five games.
LeBron James suffered a Grade 2 MCL sprain in his left knee in Los Angeles' 103-96 season-ending loss to Minnesota — and questions about his playing future inevitably followed.
The NBA's all-time leading scorer has a $52.6 million player option for what would be his 23rd season.
James, 40, previously said he would discuss his NBA future with his family after completing his 22nd season.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
"I've had a lot of clients who didn't want to play with Kobe" - Prominent NBA agent on why stars said no to Kobe Bryant in his final years
"I've had a lot of clients who didn't want to play with Kobe" - Prominent NBA agent on why stars said no to Kobe Bryant in his final years originally appeared on Basketball Network. By the time Kobe Bryant was limping through the final chapters of his career, the Los Lakers no longer felt like a destination. L.A. felt like a place where great players could go to watch their careers stall or unravel under crushing pressure. The fear of stepping into that locker room was real, and it was about dealing with No. 24, the merciless leader whose quest for glory came at the cost of nearly everyone around him. "I've had a lot of clients in the last five years who didn't want to play with Kobe," a top NBA agent said without hesitation in 2014. Was the man who dominated headlines and highlight reels the real reason stars passed on the Lakers? The same guy who inspired millions scared away those who should have been his teammates? Why players said no This agent knows what happens behind closed doors. When Bryant was the face of the franchise, the supporting cast became easy targets. "His teammates become the chronic public whipping boys," the agent explained. "Anyone who even dared to challenge Kobe for the spotlight turned into the team scapegoat. That's what happened with Shaq. It happened with Andrew Bynum, Pau Gasol, Dwight Howard. Everyone got their turn." Bryant's words didn't help. He once told a reporter Shaq was "fat and out of shape." That kind of public criticism set a toxic tone that lingered long after the superstar big man left, taking those three Finals MVPs with him. Take Andrew Bynum's contract talks in 2012. He wanted one thing. "How are you going to rein in Kobe?" The Lakers had no answer. Bynum wanted out of the chaos. From 2012 to 2016, the Lakers cycled through dozens of players, desperate to find pieces that could survive Kobe's iron grip. The cost of being Him Kobe left a legacy few will ever match: 33,643 points, five NBA championships and a mindset built on pure willpower. But his final years were marred by injuries and a locker room that felt more like a battlefield. The Lakers made the playoffs just once after 2012. And the cracks were everywhere. Players didn't just want out because of the injuries or the losing. They left because nobody wanted to become the media's scapegoat. Because standing in Bryant's shadow meant risking your career being torn apart in public. In the agent's words, "Anyone who could challenge Kobe became a pincushion for the media." That toxic atmosphere gutted the team. Pau Gasol eventually walked away. Dwight Howard lasted just one season. Bynum's body gave out, but so did his patience. The Lakers paid the price for that in lost talent and wasted years. But here's the finality to this… Ask any of those players about Kobe now and they'll rattle off some of the nicest things that can be said about a person. Greatness has a cost, especially in the moment. Kobe was hard, but so was Micheal. So are LeBron and Steph. So were Magic and Larry. So were Russell and Chamberlain. Whether the agent spoke out of spite, or what he felt was God's truth, this article is not written to demean Kobe. The exact opposite, actually. The best player in the world can't carry a team if no one wants to stand beside him. And that's the truth the Lakers had to live with until the day their franchise icon said story was originally reported by Basketball Network on Aug 11, 2025, where it first appeared.
San Francisco Chronicle
2 hours ago
- San Francisco Chronicle
Rays beat Athletics 7-4, snapping three-game losing streak
SACRAMENTO, Calif. (AP) — Brandon Lowe and Junior Caminero hit back-to-back home runs, and Ryan Pepiot went 6 1/3 innings as the Tampa Bay Rays beat the Athletics 7-4 on Monday night. Lowe's 23rd and Caminero's 33rd home runs of the season stretched a 6-1 Rays lead in the seventh inning that was cut to three in the bottom half. Lowe added a sacrifice fly in the eighth. Pepiot (8-9) pitched six innings of one-run ball before allowing the three-run shot to Tyler Soderstrom in the seventh. Shea Langeliers hit a solo home run in the fifth inning. Christopher Morel hit a solo home run to start the fourth inning. His initial at-bat in the third was cut short when Brandon Lowe was caught heading home on a failed double steal attempt. Josh Lowe hit a sacrifice fly earlier in the inning. Nick Fortes hit a two-run single for the Rays in the second inning. Athletics starter Jeffrey Springs (10-8) lasted just 3 1/3 innings after allowing seven hits and four runs. Key moment Brandon Lowe and Caminero's back-to-back home runs gave the Rays a lead required to snap a three-game losing streak. Key stat Langeliers hit his 12th home run since the All-Star break, tied with Kyle Schwarber for the most in baseball. ___
San Francisco Chronicle
2 hours ago
- San Francisco Chronicle
Zach Neto hits 2 homers, Angels overcome Shohei Ohtani's 42nd HR for a 7-4 win over the Dodgers
ANAHEIM, Calif. (AP) — Zach Neto hit his eighth leadoff home run of the season and added another homer in the sixth, and the Los Angeles Angels overcame Shohei Ohtani's 42nd homer during an eighth-inning rally in their 7-4 victory over the Los Angeles Dodgers on Monday night. Mike Trout had a two-run single and Yoán Moncada drove in two runs for the Angels, who are improbably 4-0 in the Freeway Series this season. The defending World Series champion Dodgers' lead over San Diego in the NL West also slipped to just one game for the first time since June 14 with the Padres' win over San Francisco. The Dodgers trailed 7-0 before Ohtani homered in his third straight game, driving a solo shot to right in the eighth inning. Ohtani has a 10-game hitting streak in August, and he has four homers among his nine hits in the Dodgers' last five games. Max Muncy followed with a three-run homer to slash the Angels' big lead, but Connor Brogdon ended the eighth before Kenley Jansen earned his 22nd save. Angels right fielder Gustavo Campero got injured while chasing Muncy's drive into the short porch. He was taken off the field on a cart. José Soriano (8-9) allowed only two singles and two walks while throttling the Dodgers over six scoreless innings of two-hit ball. Neto reached base five times during his third career multihomer game, starting when he crushed Yoshinobu Yamamoto's first career pitch in Anaheim for his 18th homer. Yamamoto (10-8) had one of the poorest outings in his solid season, yielding six runs on six hits and five walks while failing to get out of the fifth inning. Bryce Teodosio and Neto scored in the fifth on Trout's bases-loaded single. Moncada and Campero added RBIs while the Angels chased Yamamoto. Key stat The Dodgers are 10-12 since the All-Star break. Up next The Dodgers' Emmet Sheehan (3-2, 3.00 ERA) will start against Angels reliever Victor Mederos, who will be the opener in a bullpen game Tuesday after Tyler Anderson was ruled out with a back injury. ___
