Jeanie Buss will continue to lead the Los Angeles Lakers into the foreseeable future, despite the family’s sale of the franchise to businessman Mark Walter for a reported $10 billion. The deal, one of the largest in sports history, was disclosed by ESPN’s Shams Charania on June 18th. The Lakers issued a statement on Wednesday announcing the sale and confirming that Buss will remain as the team’s governor for years to come, as per The Athletic.
Walter, the CEO and chairman of TWG Global and primary owner of the Los Angeles Dodgers, is set to acquire a majority stake in the Lakers. Buss expressed her satisfaction with Walter, stating, “I have come to know Mark well and appreciate his shared values.” She commended his partnership over the past four years and looks forward to continuing the Lakers’ esteemed legacy under his ownership.
The Buss family, who purchased the Lakers for $67.5 million in 1979, will retain a minority ownership while Walter adds another prominent sports team to his portfolio, which includes stakes in the Dodgers, Los Angeles Sparks, Andretti Global, Chelsea FC, and RC Strasbourg. In a statement, Walter recognized the Lakers’ historical significance and pledged to uphold their tradition of excellence. He praised the Buss family’s contributions to the team and expressed his eagerness to collaborate with Jeanie on the Lakers’ future endeavors.
The decision to sell the majority of the Lakers to Walter was a collective one made by Jeanie and her siblings. The transaction, expected to be finalized in the third or fourth quarter of 2025 according to the Associated Press, marks a significant milestone in the franchise’s history.
