The Los Angeles Lakers, one of the most iconic teams in global sports, is set to change hands in a historic $10 billion deal. The Buss family has agreed to sell a majority stake of the Lakers to billionaire financier Mark Walter, making it the most expensive transaction ever for a professional sports franchise.
Mark Walter and TWG Global Finalise Landmark Lakers Purchase
Mark Walter, known for his investments across multiple sporting codes, already held a minority stake in the Lakers since 2021. Through his firm TWG Global, Walter will now take over majority ownership, surpassing the previous sports franchise sale record held by the Washington Commanders.
The Lakers, led by star athlete LeBron James, are reportedly being sold to billionaire investor Mark Walter. [Credit: Getty Images]
Walter is no stranger to sports success. He is the controlling owner of the Los Angeles Dodgers and co-owner of Chelsea FC. His acquisition of the Lakers signals his growing influence in global sports, and TWG Global continues to expand with interests in teams like the WNBA’s Los Angeles Sparks and the Cadillac Formula One team.
According to TWG Global, “Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, of which he has been a stakeholder since 2021.”
Jeanie Buss to Remain as Lakers Governor
Although the Buss family will relinquish majority control, Jeanie Buss will reportedly maintain at least a 15% stake in the team, allowing her to continue as the Lakers’ governor. Under NBA rules, a team governor must hold a minimum 15% ownership.
Buss, who assumed leadership after the death of her father Jerry Buss in 2013, helped guide the Lakers to their 17th NBA championship in 2020. Despite internal family struggles, she maintained control of the team after a court battle in 2017, ensuring a unified direction for the franchise.
Magic Johnson, Lakers legend and a long-time friend of the Buss family, endorsed the deal on social media. “Mark Walter is the best choice and will be the best caretaker of the Laker brand,” he wrote. “Mark is driven by winning, excellence, and doing everything the right way.”
Lakers Sold in Blockbuster Deal with Huge Implications
With the Lakers sold for a staggering $10 billion, the implications go beyond the court. The record-breaking sale dwarfs recent franchise deals, including the Boston Celtics’ proposed $6.1 billion sale earlier this year.
Mark Walter’s acquisition underscores the growing financial clout of the NBA and the global appeal of the Lakers. Jerry Buss bought the franchise in 1979 for just $67.5 million. Under his leadership, the team won 10 championships, and his family retained control for over four decades.
Dave Roberts, manager of the LA Dodgers, commented on the transition, stating, “It’s a very exciting day for the Lakers, for the city of Los Angeles. Mark Walter will do everything he can to produce a championship-calibre team every single year.”
Lakers’ Star Power and Competitive Future
The Lakers remain one of the most watched and supported teams in the NBA, powered by superstars like LeBron James and new recruit Luka Dončić. The Lakers stunned fans earlier this year by acquiring Dončić from Dallas in exchange for Anthony Davis and other assets.
LeBron James, the NBA’s all-time leading scorer, also re-signed on a two-year, $104 million deal, cementing his commitment to the team. With James and Dončić leading the charge, the franchise remains one of the league’s most competitive squads.
Although they were knocked out of the playoffs by the Minnesota Timberwolves, the buzz around the Lakers hasn’t died down. With Mark Walter at the helm and Jeanie Buss still involved, fans are optimistic about the team’s future.
The Los Angeles Lakers transaction is reportedly valued at $10 billion.\ Kirby Lee/USA Today Sports/Reuters]
TWG Global’s Expanding Sports Empire
This acquisition by Mark Walter adds to an already impressive portfolio of sports assets under TWG Global. The company is actively involved in the Premier League, WNBA, MLB, and Formula 1. Walter’s firm is known for its long-term strategic investments and dedication to high-performance teams.
TWG Motorsports is also preparing the Cadillac Formula One team for its 2026 debut, adding to the buzz surrounding Walter’s growing dominance in elite-level sports. His diversified investments reflect a strategy focused on brand prestige, competitive success, and global reach.
The End of an Era and a New Beginning
The sale of the Lakers to Mark Walter marks the end of the Buss family’s majority ownership that began in 1979. Over 46 years, the family led the Lakers to 17 NBA Finals appearances and 11 titles, creating a legacy that few sports franchises can match.
The Lakers sold at a valuation that reflects their global stature, market power, and fan base. While some fans may view the sale as the end of an era, others see it as a new chapter with Walter poised to maintain and elevate the team’s success.
With his strong track record, deep pockets, and love for Los Angeles sports, Mark Walter seems uniquely positioned to honour the Lakers’ legacy while guiding them into a new era.
