Buss family agrees to sell controlling stake of Lakers with record $10 billion US valuation: report

Tim Reynolds · The Associated Press

· Posted: Jun 18, 2025 6:17 PM EDT | Last Updated: 1 hr ago

The Buss household has agreed to merchantability the controlling involvement of the Los Angeles Lakers to TWG Global CEO Mark Walter, doing truthful with a franchise valuation of $10 cardinal US — the astir ever for a nonrecreational sports franchise, a idiosyncratic with cognition of the statement said Wednesday.

As portion of the deal, Jeanie Buss — whose household has had power of the Lakers since her begetter bought the squad successful 1979 — intends to stay arsenic squad governor, said the person, who spoke to The Associated Press connected information of anonymity due to the fact that neither broadside instantly announced details.

It is not wide however overmuch much of the Lakers that Walter is acquiring. He was portion of a radical that bought 27 per cent of the Lakers successful 2021.

ESPN archetypal reported the agreement.

"Mark Walter is the champion prime and volition beryllium the champion caretaker of the Laker brand," Lakers fable Magic Johnson, a concern spouse of Walter's and idiosyncratic highly adjacent to Jeanie Buss, posted connected societal media. "The impervious is successful the pudding connected what he's been capable to execute with the LA Dodgers. Mark has been thing abbreviated of a victor notching 2 World Series and 11 NL West divisional titles successful the past 12 years!"

Walter 'driven by winning'

Johnson said helium is definite Jeanie Buss made the woody lone aft being convinced that Walter volition bash close by the Lakers.

"Laker fans should beryllium [ecstatic]," Johnson said. "A fewer things I tin archer you astir Mark — helium is driven by winning, excellence, and doing everything the close way. AND helium volition enactment successful the resources needed to win! I tin recognize wherefore Jeanie sold the squad to Mark Walter due to the fact that they are conscionable alike — they are competitory people, person large hearts, emotion to springiness back, and some similar to beryllium down the scenes. This makes each the consciousness successful the world."

The statement for the merchantability of the Lakers comes astir 3 months aft Bill Chisholm agreed to bargain the Boston Celtics with an archetypal valuation of $6.1 cardinal — that topping the erstwhile people of $6.05 cardinal merchantability for the NFL's Washington Commanders.

And now, $10 cardinal — not conscionable a record, but a full smashing of the erstwhile mark.

The Lakers person been successful the power of the Buss household for 46 years, the longest of immoderate existent NBA franchise. Herb Simon bought the Indiana Pacers — presently successful the NBA Finals — successful 1983, the second-longest existent ownership of an NBA club.

Jerry Buss bought the Lakers for $67.5 cardinal and made it to the NBA Finals 16 times retired of his 34 seasons starring the club, winning 10 championships successful that span. When helium died successful 2013, ownership of the Lakers went into a spot controlled by Buss' six children — who each worked for the Lakers successful assorted capacities for respective years.

Eventually, the household began clashing implicit control. An statement was struck successful 2017 calling for Jeanie Buss to service arsenic controlling owner, ending a conflict that included her going to tribunal aft her brothers Jim and Johnny Buss called for a committee gathering that she interpreted arsenic a situation to her powerfulness — soon aft she removed Jim Buss arsenic the Lakers' enforcement vice president of hoops operations.