Buss Family Set To Sell LA Lakers In Record $10 Billion Deal

Last Updated:June 19, 2025, 09:05 IST

The deal draws curtain on the Buss family's nearly five-decade ownership of the renowned franchise. However, Jeanie Buss will continue to serve as the governor of the team.

Los Angeles Lakers. (X)

NBA side LA Lakers’ owners, the Buss family, are set to sell a controlling stake of the franchise to Mark Walter, who already owns a minority stake in the side.

Walter heads TWG Global, the holding company that owns the Los Angeles Dodgers and the Los Angeles Sparks, in addition to being part of the ownership circle of Premier League side Chelsea FC.

The deal draws the curtain on the Buss family’s nearly five-decade ownership of the renowned franchise; however, Jeanie Buss will continue to serve as the governor of the team.

Lakers legend Earvin ‘Magic’ Johnson, who is also a business associate of Walter, took to the social media platform X, formerly Twitter, to congratulate Buss on the successful sale of the iconic club.

“Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the Lakers legacy and tradition of winning – Mark Walter, my business partner and friend," Johnson said.

“Mark Walter is the best choice and will be the best caretaker of the Laker brand. The proof is in the pudding on what he’s been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner notching 2 World Series and 11 NL West divisional titles in the last 12 years," he added.

“Laker fans should be estatic. A few things I can tell you about Mark – he is driven by winning, excellence, and doing everything the right way," the ‘Showtime’ Lakers icon said.

“AND he will put in the resources needed to win! I can understand why Jeanie sold the team to Mark Walter because they are just alike – they are competitive people, l have big hearts, love to give back, and both prefer to be behind the scenes. This makes all the sense in the world. I am so so SO happy and excited for Lakers fans all over the world," Johnson added.

“I know that my sister Jeanie would have only considered selling the Lakers organization to someone she knows and trusts would carry on the Buss legacy, started by her father Dr. Buss. Now she can comfortably pass the baton to Mark Walter, with whom she has a real friendship and can trust."

“She’s witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers team, organization, and fans! Both are extremely intelligent, visionaries, great leaders, and have positively impacted the greater Los Angeles community! I love both my sister Jeanie Buss and my business partner Mark Walter," the legend concluded.

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News sports Buss Family Set To Sell LA Lakers In Record $10 Billion Deal