The Los Angeles Lakers are poised to make history as the Buss family finalizes a $10 billion sale to billionaire Mark Walter, ending their 46-year reign over the storied NBA franchise. Walter, CEO of TWG Global, will assume majority ownership, while Jeanie Buss is expected to retain her role as team governor. This monumental deal values the iconic team at the highest price ever paid for a professional sports franchise, surpassing the recent $6.1 billion sale of the Boston Celtics.
The Lakers’ legacy, built over decades, includes 11 NBA championships won during the Buss family’s tenure, with notable golden eras featuring “Showtime” Lakers led by Magic Johnson and the team’s success with Kobe Bryant. Walter, who already owns a minority stake in the team, has a proven track record of success with his sports ventures. As the owner of the Los Angeles Dodgers, he has led the team to two World Series titles since taking over. Magic Johnson, a business partner and close associate of Walter, has expressed enthusiasm for the sale, praising Walter’s winning mentality and commitment to excellence.
Johnson highlighted the similarities between Walter and Jeanie Buss, noting their shared competitive spirit, generosity, and preference for a low profile. With Walter’s ownership, Lakers fans can expect a continued focus on winning and building a championship-caliber team. The sale marks the end of an era for the Buss family, who have been synonymous with the Lakers since Dr. Jerry Buss purchased the team in 1979.
