Los Angeles Lakers Set for $10 Billion Sale, Poised to Become Most Valuable Sports Franchise

The Buss family is finalizing a deal to sell a controlling stake in the Los Angeles Lakers to Mark Walter, the current owner of the Los Angeles Dodgers. This transaction, once completed, will elevate the Lakers' valuation to an unprecedented $10 billion, making it the most valuable sports franchise globally.

Mark Walter, who serves as Chief Executive Officer of Guggenheim Partners, will take majority ownership of the Lakers. Jeanie Buss, the current owner and team governor, will maintain her role in representing the franchise in league affairs. She has led the team since her father, Jerry Buss, passed away in 2013.

"We can confirm: Mark Walter is entering into an agreement to acquire additional interests in the NBA's Los Angeles Lakers, of which he has been a stakeholder since 2021," stated a team announcement.

This sale not only surpasses the previous record of $6.1 billion set by the Boston Celtics last year but also positions the Lakers nearly $4 billion ahead of any other sports franchise.

Walter's portfolio extends beyond the Dodgers; he also owns the Professional Women's Hockey League and the Los Angeles Sparks, and has stakes in Chelsea FC and the Cadillac Formula 1 racing team.

Jerry Buss originally purchased the Lakers for $67.5 million in 1979, transforming them into a global sports icon. Following his death, ownership transitioned to his family, including Jeanie and Jim Buss, who departed from the organization in 2017 after serving as executive vice president of basketball operations.

Under the Buss family's stewardship, the Lakers have achieved a remarkable 2,236-1,467 record and secured 11 NBA championships, featuring legendary players such as Kareem Abdul-Jabbar, Magic Johnson, Kobe Bryant, Shaquille O'Neal, and LeBron James.

Throughout this period, the franchise has committed to substantial player contracts, including multi-year agreements with stars like Bryant, O'Neal, James, and Anthony Davis.

Walter's ownership of the Dodgers has also seen significant financial moves, including a record-breaking $700 million contract for Japanese sensation Shohei Ohtani in 2023.

Magic Johnson, a former part-owner of the Lakers and current member of the Dodgers' ownership group, expressed his excitement about the deal on social media. "I just talked to my sister Jeanie Buss to tell her congratulations, and that I'm so happy for her and family. I told her that her dad Dr. Buss would be very proud of her," he shared.

Johnson also holds ownership stakes in the Sparks, Los Angeles FC, and the Washington Commanders. He praised Walter's capabilities: "Mark Walter is the best choice and will be the best caretaker of the Laker brand. The proof is in the pudding on what he's been able to accomplish with the LA Dodgers."

This sale marks another significant moment for the Lakers within a short span; they recently made headlines by acquiring superstar guard Luka Dončić from the Dallas Mavericks in a trade that shocked the NBA community.