NBA Shocker: Buss Family to Sell Majority Stake in the Lakers in $10 Billion Deal

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In a remarkable turn of events, the Buss family has consented to transfer a significant portion of ownership of the Los Angeles Lakers to Mark Walter, CEO of TWG Global, for approximately $10 billion in an evaluative transaction.

As a gamer, I’m excitedly following NBA news, and just learned from ESPN insider Shams Charania that Jeanie Buss will remain as our team’s governor even after the sale. In the world of NBA, the governor acts as our team’s voice on the league’s board of governors.

Beyond his ownership of the Los Angeles Dodgers in Major League Baseball, the Sparks in the WNBA, and Cadillac’s Formula One team, Walter also manages a range of additional assets. The current $10 billion valuation sets a new record for an NBA team (the Boston Celtics were sold recently for over $6 billion), significantly surpassing most previous evaluations of this team’s worth.

One of the most renowned and emblematic NBA teams, the Lakers, boast current superstars such as LeBron James and Luka Doncic, alongside legends like Magic Johnson, Kobe Bryant, and Kareem Abdul-Jabbar, who was previously associated with the Hollywood Reporter.

Since 1979, the Lakers have been under the ownership of the Buss family, with Jerry Buss acquiring the team for a sum of $67.5 million. Tragically, Jerry Buss passed away in the year 2013.

The sale transpired a few years following the instance when Shark Tank tycoon Mark Cuban relinquished control over the Dallas Mavericks to the Adelson family, an unexpected move similar to it. These sales serve as a testament to the worth of sports, with the NBA’s fresh TV rights agreements presumably securing substantial media income for the upcoming decade.

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2025-06-19 00:54