Image Credit: Kiyoshi Mio-Imagn Images

Buss Family Reportedly Selling Los Angeles Lakers to TWG Global CEO, Mark Walter for $10 B Valuation

This would be the first time since 1979 that the Buss family wouldn't be in control of the Lakers.

Image Credit: Kiyoshi Mio-Imagn Images

The Buss family is reportedly entering an agreement to sell the majority of ownership of the Los Angeles Lakers to Mark Walter for a valuation of approx. $10 billion. The Buss family has run the Lakers for 46 years, while Walter, the CEO and chairman of diversified company TWG Global, owned minority stakes. This agreement would be the highest ever for a U.S. professional sports franchise.

According to the report by ESPN’s Shams Charania, after the deal, the Buss family would keep a minority share for almost 15%, for over a period of time. The report further suggests that Jeanie Buss would continue her role as the Governor following the completion of the deal. This would be the second Southern California franchise in which Walter has expressed interests. Notably, the ownership group he leads has owned the Los Angeles Dodgers since 2012.

Walter has been a minority stakeholder in the Lakers since 2021 and has interests in multiple professional sports organizations, including the LA Dodgers, WNBA's Los Angeles Sparks, the Billie Jean Cup, Cadillac Formula 1 team and the Professional Women's Hockey League. https://t.co/mgZkxcdXnp
— Shams Charania (@ShamsCharania) June 18, 2025

Walter, on the other hand, has been a minority owner in the Lakers since 2021. Apart from the Dodgers, he has interests in multiple teams, including the WNBA’s Los Angeles Sparks, the Billie Jean Cup, Cadillac Formula 1 team and the Professional Women’s Hockey League.

Magic Johnson Believes Mark Walter is the Best Choice for Laker Brand

LA Lakers legend and Walter’s business partner, Magic Johnson, said that Walter is the best choice for the team and he would be the best caretaker of the franchise. He also said that Jeanie Buss, the daughter of Jerry Buss, must have signed the deal only after getting to know that Walter has only the best interest for the franchise. He posted on X, “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!”

The five-time NBA Champion added, “A few things I can tell you about Mark — he is driven by winning, excellence, and doing everything the right way. 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, have big hearts, love to give back, and both prefer to be behind the scenes. This makes all the sense in the world.”

If the deal gets approved by the NBA, this would be the first time since 1979, since Jerry Buss’ ownership of the Lakers for $67.5 million, that his family wouldn’t be in control of the team. The team was transferred to a family trust and Buss’ children have been running the company since his death in 2013. His family held a 66% stake in the team.

Los Angeles Lakers

Garima Ranawat

Garima is a sports writer with around two years of experience in Indian sports and a newfound interest in the NBA. Inspired by the leadership of cricketing legend MS Dhoni, she wishes to bring in newer perspectives to the NBA fanatics with her writing.