Los Angeles Lakers Majority Ownership Set to Change Hands in Record-Breaking Deal

The Los Angeles Lakers are poised to undergo a historic ownership change, with the majority stake in the iconic NBA franchise reportedly being sold for an estimated $10 billion – a sum that would make it the most expensive sale of a U.S. sports team to date.

The deal involves the Buss family, who have owned the Lakers since 1979, and billionaire Mark Walter, CEO of TWG Global. Walter, who has held a 20% stake in the Lakers since 2021, is known for his controlling interest in the Los Angeles Dodgers, the Major League Baseball team that clinched the World Series title last year.

A spokesperson for Walter confirmed ongoing negotiations to acquire additional shares in the Lakers but declined to provide further details. The Lakers organization has yet to comment publicly on the sale.

This transaction would surpass previous record sales in U.S. sports, including the Boston Celtics’ $6.1 billion sale earlier this year and the $6.05 billion sale of the Washington Commanders football team in 2023. The Lakers’ valuation of around $10 billion eclipses those deals by approximately $4 billion.

The Buss family purchased the Lakers, along with the Los Angeles Kings hockey team and the Kia Forum arena, for $67.5 million in 1979. Under their stewardship, the Lakers have become one of the NBA’s most successful franchises, securing 11 championships and making 17 Finals appearances.

Following the death of patriarch Jerry Buss in 2013, ownership passed to his six children through a trust. The family currently holds a 66% majority stake. Jeanie Buss, serving as the Lakers’ governor since then, is expected to retain her leadership role following the sale.

According to reports, the trust requires approval from most of the Buss siblings to finalize any sale. Lakers legend Magic Johnson, a former part-owner of the team, expressed his support for the deal, praising Walter’s leadership and his track record with the Dodgers.

“I just spoke with my sister Jeanie Buss to congratulate her and the family,” Johnson said on social media. “She has seen how Mark built a winning Dodgers team and knows he will do right by the Lakers, the organization, and the fans.”

Walter’s sports portfolio extends beyond baseball, including stakes in Chelsea Football Club and the Cadillac Formula 1 team, which will debut in 2026. With this acquisition, he is set to become the primary owner of one of basketball’s most storied franchises, marking a new chapter for the Lakers as they continue to chase NBA glory led by superstar LeBron James.