In a transformative move for professional sports, the Los Angeles Lakers — one of basketball’s most celebrated franchises — are reportedly being sold to businessman Mark Walter in a record-shattering $10 billion deal. The landmark transaction, if finalized, would represent the highest valuation ever for a sports team and set the stage for a new chapter in Lakers history.
According to multiple league sources, including reporting from ESPN insiders, the NBA Board of Governors could approve the sale as early as next month in Las Vegas. Jeanie Buss, the team’s current governor and daughter of the late Jerry Buss, is anticipated to maintain a leadership role for the near future, despite the change in ownership.
The Buss family has been synonymous with the Lakers since acquiring the team in 1979. Under their guidance, the franchise collected 11 NBA championships and consistently maintained one of the league’s best win-loss records. However, the family’s traditional management approach has drawn increasing criticism in recent years, especially as billionaire-backed ownership groups redefine the business of basketball.
“This marks a pivotal evolution,” noted a league insider. “The Lakers now have the potential to operate like a modern sports enterprise, not just a family-run team.”
Financial Firepower Meets Franchising Reality
Unlike most of today’s NBA owners who view their teams as just one piece of a vast financial empire, the Buss family largely relied on revenue generated by the Lakers themselves. A $3 billion local broadcast agreement with Spectrum in 2012 gave the team breathing room, but other franchises — such as the Clippers under Steve Ballmer — dramatically outspent the Lakers in recent years. Ballmer acquired the Clippers for $2 billion in 2014 and has since invested another $2 billion into the construction of the Intuit Dome, showcasing a level of financial commitment that far surpassed what the Lakers could match.
Even though the Lakers have spent more than $1.5 billion on player salaries and luxury taxes since 2013 — ranking them eighth in the league — their reputation for penny-pinching has persisted. This frugality came to light in several instances: failed negotiations with coach Tyronn Lue in 2019 over a $1 million salary gap, Alex Caruso’s 2021 departure after the team declined to match a competitive offer, and minimal investment in analytics until recently. The Lakers even faced backlash for applying for and later returning a $4.6 million pandemic-era federal relief loan intended for small businesses.
Anecdotes about cost-saving measures — from denying assistant coaches expensive accommodations to neglecting key front-office contracts — painted a picture of a franchise reluctant to spend beyond immediate needs. Until the recent acquisition of Luka Doncic, the team hadn’t absorbed additional salary in a trade since 2013.
A Different Playbook: Mark Walter’s Approach
Mark Walter, the billionaire investor behind Guggenheim Partners, brings a distinctly different philosophy. Since acquiring the Los Angeles Dodgers in 2012, Walter has invested heavily not just in star players but in infrastructure — from analytics and scouting to player development. His leadership helped turn the Dodgers into a powerhouse both on and off the field.
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 @ShamsCharania.
Jeanie Buss will continue to serve in her role as Governor after… pic.twitter.com/5Q5AJteYzw
— ESPN (@espn) June 18, 2025
With no salary cap on non-player expenses in the NBA, Walter’s model is seen as highly replicable. “This could finally be the moment when the Lakers become what people always assumed they were — an operation with unlimited ambition and resources,” one source said.
The Lakers’ timing couldn’t be more critical. The team just wrapped up a 50-win season under rookie coach JJ Redick, exiting in the first round of the playoffs to the Minnesota Timberwolves. Now, big decisions loom.
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The Offseason Ahead: Doncic, LeBron, and the Roster
Luka Doncic, acquired in a blockbuster trade earlier this year, becomes eligible for a contract extension on August 2. He could opt for a four-year, $229 million deal or wait to qualify for a five-year max contract in 2028. Sources suggest Walter’s financial reputation makes Los Angeles a more enticing long-term destination for Doncic.
Then there’s the LeBron James factor. The NBA’s elder statesman, now 40, holds a $52.6 million player option for next season and is expected to opt in. While his playing future remains year-to-year, insiders say Walter may become a critical mentor as James eyes eventual NBA team ownership.
With only one tradable future first-round pick and limited cap space, the Lakers will need to make shrewd moves to improve the roster. They have a $5.7 million taxpayer midlevel exception and must resolve their lack of depth at the center position — a need that became glaring after a failed trade for Charlotte’s Mark Williams.
Wider NBA Impact: Expansion and Escalating Valuations
The ripple effects of the $10 billion sale go beyond Los Angeles. Following last year’s $6.1 billion sale of the Boston Celtics, and previous records set by the Phoenix Suns and Mavericks, expansion talks are heating up again. Analysts predict future expansion fees could reach $6 billion per new team, as owners eye global growth and fresh media markets.
NBA Commissioner Adam Silver is expected to discuss expansion at next month’s board meeting, with a formal study committee likely to be announced.
Houston Rockets and the Broader Competitive Landscape
Meanwhile, the Houston Rockets have solidified their coaching future by extending Ime Udoka, fresh off a 52-win campaign and the team’s first playoff appearance since 2020. They’ve also locked in center Steven Adams for three more years and must soon decide whether to pick up Fred VanVleet’s $44.9 million team option. Rumors suggest Houston could also be a preferred destination for Phoenix’s Kevin Durant.
As small-market teams like Oklahoma City and Indiana make deep playoff runs through strong development strategies, the Lakers now have a golden opportunity to realign their operations to match — or exceed — the league’s most modern franchises.
With Mark Walter at the helm, Lakers fans hope this monumental ownership shift will finally unlock the full potential of the franchise, blending tradition with ambition as the purple and gold aim to restore their place atop the NBA.
