NBA Approves Sale of Lakers to Mark Walter for $10 Billion

NEW YORK – The NBA Board of Governors unanimously approved the sale of the majority interest in the Los Angeles Lakers to businessman Mark Walter on October 30, 2025. The transaction is set to close shortly, marking the first time in 46 years that the Buss family will not be the controlling owner of the franchise.

The Buss family has owned a majority stake in the team since Dr. Jerry Buss purchased the Lakers in 1979. Although they are selling their majority ownership, they will retain an ongoing interest in the team, and Jeanie Buss will continue as the team’s Governor for at least five years after the sale is finalized.

“Mark Walter has a long association with our leagues, having served as a minority owner of the Lakers and as the principal owner of the WNBA’s Sparks for more than a decade,” said NBA Commissioner Adam Silver. “I have no doubt that he will be a committed steward of the team.”

Walter’s acquisition of the Lakers has been valued at $10 billion, making it the highest price ever paid for a sports franchise. The sale surpasses the $6.1 billion that a group led by Bill Chisholm paid for the Boston Celtics. Walter, CEO of TWG Global, has an estimated net worth of $7.3 billion and also holds stakes in several sports franchises, including the Los Angeles Dodgers and Chelsea Football Club.

“The Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence and the relentless pursuit of greatness,” Walter said in a statement. “Few teams carry the legacy and global influence of the Lakers, and it’s a privilege to work alongside Jeanie Buss as we maintain that excellence.”

Jeanie Buss expressed excitement about the future, noting that she has known Walter for a decade as a businessman and now a colleague. She said, “He has demonstrated time and time again his commitment to bringing championships to Los Angeles.”

The Lakers currently seek their 18th NBA title, with stars Luka Doncic and LeBron James leading the team. James, now 40, has not yet announced his plans beyond this season.