The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO of TWG Global and owner of the Los Angeles Dodgers, sources familiar with the deal told NBCLA on Wednesday.
The deal, first reported by ESPN, has a valuation of about $10 billion, a source told NBCLA.
Walter is part of the ownership of other sports franchises, including the Los Angeles Sparks of the WNBA, Chelsea FC of the English Premier League and several auto racing teams.
NBCLA has reached out to the Dodgers organization for comment.
Jeanie Buss, who took over the Lakers after the death of her father Dr. Jerry Buss, will continue to serve as the team’s governor after the sale, an indication that the Buss family’s long history with the Lakers will continue.
The Buss family has owned the Lakers since 1979 when the late Jerry Buss bought the Lakers for $67.5 million in 1979.
Magic Johnson, who led the Lakers’ “Showtime” era, took to social media and said Laker fans should be “ecstatic” about the new ownership, calling Walter “the best choice” and “best caretaker of the Lakers.”
“(Mark Walter) is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win!” Johnson said.
Laker fans should be estatic. A few things I can tell you about Mark – he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win! I can understand why Jeanie sold the team to Mark Walter because they are just alike -…
— Earvin Magic Johnson (@MagicJohnson) June 18, 2025
CNBC Media and Sports Reporter Alex Sherman agreed that having Walters with “deep pockets” will be beneficial for the Lakers franchise.
“He’s clearly willing to spend money on the Dodgers,” Sherman said, especially with the looming reality of LeBron James’ retirement. “If LeBron retires at some point, they’ll be obviously be in the market again for a marquee free agent to replace him.
“Having someone like Mark Walter in that chair, I think Lakers fans can rest easy, realizing the money is going to be no object,” Sherman explained,
This blockbuster deal will be the most expensive franchise sales in sports history after the Boston Celtics in March of 2025 were sold to William Chisholm, a lifelong fan, for a $6.1 billion valuation.
The Lakers have won a total of 17 NBA championships, one less than the Boston Celtics for the most championships in league history. (18)
This is a developing story. Check back for updates.
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