Buss Family To Sell Majority Ownership of Los Angeles Lakers for $10 Billion USD Valuation

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Summary

  • The Buss family is selling its majority stake in the Los Angeles Lakers for $10 billion, a U.S. pro sports record
  • Mark Walter of Guggenheim Partners will acquire the majority ownership, while the Buss family retains a minority share
  • Jeanie Buss will remain as the Lakers’ governor, leading the team moving forward

The Buss family is reportedly offloading their dominant share of the Los Angeles Lakers team, which is valued at approximately $10 billion USD, making it the costliest acquisition in the history of American professional sports organizations.

According to ESPN, it appears that Mark Walter, who heads both Guggenheim Partners and TWG Global, is set to take over the majority ownership from the Buss family. However, the Buss family will reportedly hold onto a smaller share, amounting to more than 15%, for some time.

Walter holds investments in several sports teams, such as the Los Angeles Dodgers and Los Angeles Sparks, the English Premier League team Chelsea, and the Professional Women’s Hockey League. Additionally, through TWG Motorsports, he controls auto racing teams including Cadillac Formula 1. Previously, he had acquired a stake in the Lakers by purchasing Phil Anschutz’s 26% share in 2021. Furthermore, he was granted the first option to purchase the majority share moving forward.

It is said that the Buss family will maintain a smaller portion, roughly more than 15%, of ownership for some time. Moreover, Jeannie Buss will hold onto her role as governor of the Lakers for several years at least, with both parties in agreement that she’ll continue to steer the team during this period.

– The Buss family has owned the Lakers since 1979, when Jerry Buss bought the team, along with the Los Angeles Kings and the Forum, from Jack Kent Cooke for $67.5 million USD. Upon his death in 2013, he passed the franchise to his children. This ownership spans the longest period for any NBA team, making it a significant milestone in league history.

NBA legend Magic Johnson, who shares business ventures with Walter, praised the acquisition on X. “Mark Walter is an ideal selection and will be an outstanding steward of the Laker legacy,” he penned down. “The evidence speaks for itself in what he’s achieved with the LA Dodgers – 2 World Series wins and 11 NL West division titles over the past 12 years! Mark has proven time and again to be a true winner.

As a passionate gamer, let me share some insights about Mark: He’s all about triumph, perfection, and doing things right. Plus, he’s prepared to invest whatever it takes to come out on top! Johnson commented. “I get why Jeanie sold the team to Mark Walter because they’re cut from the same cloth – they’re competitive individuals with a heart for giving back, and both prefer operating behind the scenes. It all fits together perfectly.

Dave Roberts, the Dodgers manager, also declared the transaction as an incredibly thrilling day for the Lakers and the city of Los Angeles. He added, “He’s highly competitive, and he’ll strive tirelessly to construct a team worthy of championships every year, ensuring that the city takes pride in the Lakers and the rich legacy they’ve established alongside the Buss family.

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2025-06-19 06:55