The Buss family has reportedly entered an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the chairman and controlling owner of the Los Angeles Dodgers.
The deal is reportedly valued at $10 billion, which is by far the most for any sale of a professional sports team in world history, per ESPN.
The highest price before that was the Boston Celtics sale in March 2025, which was $6.1 billion for the group led by Bill Chisholm.
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Walter, the CEO and chairman of the diversified holding company TWG Global, has been a minority stakeholder in the Lakers since 2021, while having his fingerprints on other sports organizations, including the WNBA’s Los Angeles Sparks, the Billie Jean Cup and the Cadillac Formula 1 team.
As of February 2025, Forbes valued Walter’s net worth at $6.1 billion.
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Now, he will find himself in majority control of a professional sports brand even more iconic than the Dodgers.
Meanwhile, Jeanie Buss, the daughter of the late Jerry Buss who originally purchases the Lakers from Jack Kent Cooke for $67.5 million in 1979, will continue serving in her role as Governor of the franchise after the sale is complete.
Jerry Buss’s deal with Cooke also included the old Los Angeles Forum and the Los Angeles Kings franchise in the NHL.
When he died in 2013, the Lakers passed down to his children, where Jeanie has been serving as the team’s governor ever since.
Walter co-founded the global investment and advisory financial services firm Guggenheim Partners in 1999, which has more than $325 billion in assets under its management.
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