Lakers Sold to Mark Walter
In a historic and unprecedented shift for one of the NBA’s most iconic franchises, the Los Angeles Lakers have been sold to Mark Walter, the principal owner of the Los Angeles Dodgers, in a record-breaking $10 billion deal. For the first time in over 45 years, the Buss family will no longer be the majority owners of the Lakers, marking the end of an era that began with the late Dr. Jerry Buss in 1979.
The sale, confirmed Wednesday morning by both the Lakers organization and Walter’s investment group, is now the largest transaction for a professional sports franchise in U.S. history. It signals a major reshuffling of power within the NBA and raises questions about what’s next for a franchise with a storied legacy of championships, superstars, and cultural significance.
End of the Buss Dynasty
The Buss family has held control of the Lakers since Jerry Buss purchased the team in 1979. Under his leadership—and later, his children, most notably team president Jeanie Buss—the Lakers won 11 NBA titles, attracted generational talent like Magic Johnson, Kobe Bryant, Shaquille O’Neal, and LeBron James, and became a global brand synonymous with success and glamour.
Jeanie Buss, who has served as the controlling owner since 2013, said in a statement:
“Letting go of the team has been one of the most difficult decisions our family has ever made. We are incredibly proud of what we built and the legacy we leave behind. We believe Mark Walter is the right person to carry that legacy forward into a new era.”
Walter Expands His Los Angeles Sports Empire
Mark Walter is best known as the chairman and controlling owner of the Los Angeles Dodgers. Since taking over the Dodgers in 2012 as part of Guggenheim Baseball Management, Walter has helped transform the MLB club into a consistent powerhouse, culminating in a World Series championship in 2020.
“This is more than just a business transaction,” Walter said in a press release. “The Lakers represent excellence, tradition, and a commitment to greatness. I’m honored to steward this franchise into its next chapter while preserving its rich history.”
Sources close to the deal say Walter plans to maintain the current Lakers front office structure in the short term but is expected to make key long-term investments in player development, team facilities, and global expansion of the brand.
Reactions Across the NBA
The news has sent shockwaves across the league. NBA Commissioner Adam Silver issued a statement praising both parties, saying, “The Buss family has been a foundational pillar of the NBA for decades. We thank them for their extraordinary leadership and welcome Mark Walter, whose stewardship of the Dodgers has been nothing short of exemplary.”
Current and former players also weighed in, with Magic Johnson calling the news “bittersweet” on social media, and LeBron James tweeting a simple but powerful message: “End of an era. Respect to the Buss family. Welcome to the new chapter.”
What’s Next?
While the Lakers currently face roster and coaching uncertainties, especially in the wake of recent playoff disappointments, the new ownership could mark the beginning of a major organizational reset. With Walter’s deep pockets and experience in sports management, fans and analysts alike expect a renewed focus on long-term competitiveness and championship aspirations.
Still, many fans will need time to adjust to the idea of a Lakers team not owned by the Buss family—a family that has been inseparable from the franchise for nearly half a century.
As the purple and gold look toward the future, one thing is certain: Los Angeles is entering a new basketball era, one shaped by a bold vision, historic investment, and the hope of even greater glory.
