By Newspot Nigeria Sports Desk
Los Angeles— The NBA Board of Governors has unanimously approved the sale of a majority interest in the Los Angeles Lakers to billionaire investor Mark Walter, finalizing a record-setting transaction that values the franchise at $10 billion, the highest valuation ever for a professional sports team.
The move marks a historic transition for the 17-time NBA champions and concludes nearly five decades of majority control by the Buss family, who first acquired the club in 1979 under the late Dr. Jerry Buss. The Buss family will retain a minority stake in the franchise, while Jeanie Buss will remain as team governor and continue to oversee day-to-day operations for at least the next five years, ensuring continuity through the ownership change.
Walter—CEO of TWG Global and a co-founder of Guggenheim Partners—adds the Lakers to a sports portfolio that includes controlling ownership of MLB’s Los Angeles Dodgers and stakes in the WNBA’s Los Angeles Sparks and other teams. Under his stewardship, the Dodgers have become one of baseball’s most successful and valuable franchises, a track record many in the league believe will translate to the Lakers. NBA Commissioner Adam Silver lauded Walter’s “successful ventures in business and sports” while thanking the Buss family for 46 years of leadership.
The league’s official announcement underscored the deal’s scale and significance, calling it the largest franchise sale in professional sports history. The agreement, first reported in June, surpasses the Boston Celtics’ $6.1bn valuation earlier this year and consolidates two of Los Angeles’ marquee franchises—the Lakers and Dodgers—under Walter’s leadership.
While ownership shifts at the top, basketball operations leadership remains steady. Jeanie Buss’ continued role aims to preserve the Lakers’ organizational culture and brand strategy as Walter assumes majority control. Several reports indicate the Buss family’s remaining interest is at least 15%, meeting NBA rules for a principal owner’s minimum stake, though the team and league have broadly characterized it as a continuing minority position.
With new majority ownership and a steady hand in governance, attention now turns to how Walter’s investment approach could shape roster building, facilities, and global brand expansion for one of the world’s most recognizable sports teams.
Reported for Newspot Nigeria.
