American businessman Mark Walter reached a historic agreement to become the majority shareholder of Los Angeles Lakers, in what represents the most expensive sale of a professional sports franchise to date. The transaction, confirmed by ESPN, was closed for an estimated 10 billion dollars.
Despite this structural change in ownership, the Buss family will remain involved in the daily management of the franchise. Jeanie Buss, the current team executive, will retain her position with the goal of ensuring the institutional continuity that has characterized the Lakers for more than four decades.
The bond between the Lakers and the Buss family dates back to 1979, when Jerry Buss purchased the team, along with other sports properties, for 67.5 million dollars. Since his passing in 2013, his children have led the family legacy at the helm of one of the most iconic franchises in the NBA. The sale to Walter marks a turning point in that historic relationship.
Walter, who had already been a minority shareholder of the team since 2021, also holds significant investments in the sports world. In addition, he is co-owner of Los Angeles Dodgers, a team he acquired in 2012 alongside figures such as Magic Johnson, and he also has a stake in Los Angeles Sparks, the Billie Jean King Cup, the Professional Women's Hockey League, and Cadillac, a team that will compete next year in Formula 1, among others.
