Charles Esther
The Los Angeles Lakers have officially been sold in a record-breaking $10 billion deal, making the team the highest-valued sports franchise in U.S. history.
This historic transaction sees billionaire Mark Walter acquiring a controlling interest from the Buss family, who have owned the Lakers for 46 years.
The $10 billion deal redefines the landscape of American sports, both in terms of value and legacy.
Mark Walter, already a minority stakeholder in the franchise since 2021, will now take full control of the iconic team.
Despite the change in ownership, Jeanie Buss will continue in her role as Lakers governor, ensuring continuity in leadership.
Walter is the chief executive of TWG Global, a holding company known for owning high-profile sports teams including the Los Angeles Dodgers and Los Angeles Sparks.
He is also part of the consortium that owns Chelsea FC in the English Premier League and holds stakes in motorsport and tennis assets like the Cadillac Formula One team and Billie Jean King Cup.
This diversified sports portfolio adds to the credibility of his stewardship of the Lakers going forward.
NBA legend Earvin “Magic” Johnson, who is also a business partner of Mark Walter, voiced his support for the deal.
In a post on X, Johnson praised Walter’s drive for excellence and commitment to winning at the highest level.
He pointed to Walter’s transformative impact on the Dodgers, who won two World Series titles under his leadership.
The Dodgers have also made headlines by signing major stars, including Shohei Ohtani on a 10-year, $700 million contract.
Johnson described Walter as “the best choice” to lead the Lakers into a new era, highlighting his proven track record.
He added that Jeanie Buss and Mark Walter share similar values, which makes the transition smoother and more promising.
The sale represents more than a change in ownership.
It marks the end of the Buss family’s transformative four-decade reign over the Lakers.
The late Jerry Buss purchased the team in 1979 and played a crucial role in turning it into a global basketball brand.
Under his leadership, the Lakers won 11 NBA championships, the most of any franchise during that time frame.
Their success spanned multiple generations, from the Showtime era of Magic Johnson to the dominance of Kobe Bryant and Shaquille O’Neal.
More recently, the team captured a 17th championship in 2020 under LeBron James, tying them with the Boston Celtics for the most in league history.
In a surprising move earlier this year, the Lakers also acquired Luka Doncic from the Dallas Mavericks, signaling their continued ambition.
Walter’s prior investment agreement included a clause that gave him the first right of refusal if the Buss family ever chose to sell.
That moment has now arrived, and the $10 billion price tag smashes previous U.S. sports sales records.
The Lakers’ sale surpasses the $6.1 billion paid for the Boston Celtics and the $6.05 billion sale of the Washington Commanders.
This monumental transaction is not just a headline but a pivotal moment in NBA history.
Fans and analysts alike will watch closely to see how Walter reshapes the future of this legendary team.
Given his track record, expectations are sky-high.
The Los Angeles Lakers are entering a bold new chapter—one backed by serious investment and ambitious vision.
