The Lakers were sold for ten billion
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The Sports Sheet
The Los Angeles team is preparing to write a new page in basketball history. From the beginning of the Buss era in 1979 until the change of ownership, it is the highest amount ever paid for the acquisition of a sports team
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The era of showtime is coming to an end in Hollywood. The Los Angeles Lakers are preparing to write a new page in basketball history: the Buss family, owners of the famous NBA franchise since 1979, has reached an agreement to sell the majority stake to Mark Walter, for a total valuation of around 10 billion dollars (equal to around 8.7 billion euros) . This is the highest amount ever paid for the acquisition of a sports team, surpassing the previous record set in March 2025 by the Boston Celtics, sold for 6.1 billion dollars. Before that, the record belonged to the NFL's Washington Commanders, sold for 6.05 billion in 2023.
The Buss era began in 1979, when Jerry Buss purchased the Lakers – along with the Los Angeles Kings and the Forum – for $67.5 million, immediately managing to make the Californian franchise the most glamorous team in the US. This was also due to the draft pick of Magic Johnson, who became the symbol of “showtime,” the Lakers’ style of play that also helped the entire NBA emerge from the difficult 70s and gain popularity around the world.
Upon Jerry Buss’s death in 2013, ownership passed to a trust managed by his six children, with Jeanie Buss (longtime girlfriend of another Lakers icon, coach Phil Jackson) taking over in 2017 after a period of family tension and internal lawsuits. Despite the ownership change, the Buss family will retain a minority stake of just over 15 percent, with a gradual exit planned over the next few years . Jeanie Buss, the team’s current governor, will continue in her role and lead the Lakers for an unspecified period of time, ensuring continuity of management.
Mark Walter himself is not new to the Lakers environment: in 2021 he had already acquired 26 percent of the franchise from Phil Anschutz, also obtaining a right of first refusal on the majority share. Walter is the CEO and president of TWG Global, a holding company with sports interests in numerous companies, including the Los Angeles Dodgers (MLB), the Los Angeles Sparks (WNBA) and Chelsea (Premier League). On a financial level, Walter is CEO of Guggenheim Partners, a company that manages over 325 billion dollars. Among the investors is also Magic Johnson , Lakers icon and first star of the Buss era in the Showtime era .
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