In a groundbreaking move in the world of sports, the Los Angeles Lakers have been sold for an unprecedented $10 billion. This historic deal marks the largest price ever paid for a professional sports franchise in the United States, setting a new benchmark in the industry.
Details of the Sale
According to insider Shams Charania, the Buss family has finalized an agreement to sell their controlling stake in the Lakers to billionaire Mark Walter, the CEO of TWG Global and owner of the Los Angeles Dodgers. Under the terms of the deal, Jeanie Buss will retain her role as the franchise governor, continuing to represent the Lakers on the NBA’s Board of Governors.
Jeanie Buss (Allen J. Schaben / Los Angeles Times via Getty Images)
A Legacy Built on Real Estate
The sale is the culmination of a journey that began with Dr. Jerry Buss, who obtained a Ph.D. in physical chemistry from the University of Southern California in 1957. Initially pursuing a career in academia, Buss soon realized the financial limitations of his profession and pivoted to real estate. In partnership with Frank Mariani, he founded Mariani-Buss Associates, targeting undervalued properties in rapidly growing areas of Los Angeles.
By reinvesting profits and strategically leveraging debt, Buss and Mariani built a portfolio that included over 700 properties by the late 1970s. This real estate empire provided the financial foundation for Buss’s most significant acquisition: the Los Angeles Lakers.
The Lakers’ Transformation
In 1979, Dr. Buss took a considerable risk by purchasing the Lakers for $67.5 million (equivalent to around $213 million today). This pivotal moment marked the beginning of what would become a legendary era in sports history. Along with the Lakers, Buss acquired the Los Angeles Kings and the Forum arena.
Under his leadership, the Lakers transformed into a global entertainment phenomenon. With the arrival of stars like Magic Johnson and Kareem Abdul-Jabbar, coupled with Buss’s innovative approach to game-day experiences, the “Showtime” era was born. The Lakers became a cultural touchstone, recognized for their glamour and championship victories, clinching 10 NBA titles during Buss’s tenure.
Jerry Buss / David Klein/Getty Images
A Family Legacy Continues
Upon Dr. Buss’s passing in 2013, the Lakers were valued between $900 million and $1 billion. His 66% ownership of the team was divided equally among his six children, with Jeanie Buss taking on the role of team governor. Following some power struggles, she solidified her control of the franchise and led the team to a championship in 2020.
Now, 46 years after Jerry Buss made his original investment, the family has concluded the sale of their majority stake for a staggering $10 billion.
Financial Breakdown of the Sale
While initial reports suggested the Buss family was selling their entire 66% stake to Mark Walter, it is now confirmed that they retained an 18% stake. Walter, who already owned 27%, is acquiring an incremental 48% stake from the Buss family, bringing his total to 75%. Here’s how the finances break down:
- In 2021, Mark Walter purchased a 27% stake for $1.35 billion, valuing the team at $4.8 billion.
- In 2025, he acquired an additional 48% for $6.15 billion, raising the total valuation to $10 billion.
- Minority investors continue to hold a combined 7% stake.
Each of the six Buss siblings will receive $1.025 billion in cash while still holding a 3% stake valued at approximately $300 million each. With the addition of the Lakers, Mark Walter further solidifies his influence in the world of sports ownership, which already includes ownership of the Dodgers and Chelsea FC.
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