La Derecha Diario Mark Walter buys the majority of the Los Angeles Lakers for 10 billion dollars.
The American businessman acquires control of the Los Angeles team, but the Buss family will remain in charge of its management
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 familywill 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.
An upward trend within the NBA
The sale of the Lakers adds to other recent transactions that reflect the exponential growth in franchise values. In December 2023, Mark Cuban sold the majority of the Dallas Mavericks for 3.5 billion dollars, and shortly after, Wyc Grousbeck closed the sale of the Boston Celtics for 6.1 billion. These moves show the growing interest of investors in high-profile teams.
In Walter's case, his entry as a minority partner in 2021 included a right of first refusal that allowed him to complete this acquisition when the opportunity arose. According to sources cited by ESPN, this step "reinforces his previous commitment to the franchise and establishes him as a key player in professional sports".
Meanwhile, the Lakers remain a global brand with enormous cultural influence. Beyond the financial aspect, the club keeps its prominence both on and off the court, in part thanks to figures such as LeBron James, who continues to be central both in sports and in the franchise's marketing.
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