Mark Walter set to purchase Los Angeles Lakers in record $10 Billion deal

In a landmark deal, billionaire Mark Walter is set to become the new majority owner of the Los Angeles Lakers, a premier team in the National Basketball Association (NBA). The record-breaking $10 billion purchase marks the most expensive sale in the U.S. professional sports history and ends the Buss family's 45-year-long ownership of the iconic NBA franchise.

Walter is a prominent figure in the sports investment space. He is the CEO and chairman of TWG Global, a company that holds stakes in several sports ventures. His portfolio comprises ownership in the Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA), the Professional Women’s Hockey League, the Billie Jean King Cup, and the Cadillac Formula 1 team.

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Despite the change in ownership, Jeanie Buss will stay on as the Lakers' governor. The Buss family has controlled the Lakers since 1979, when the late Dr. Jerry Buss purchased the team for just $67.5 million. Under their leadership, the Lakers went on to win 11 NBA championships, more than any other team since 1980.

So why did the Buss family decide to sell the iconic team?

A major reason is the franchise’s skyrocketing valuation over the years. Earlier in 2025, Forbes valued the Lakers at around $7 billion, but Walter offered $10 billion. The team earns around $400 million annually from television and streaming deals, further boosting the revenue.

Family dynamics may also have influenced the decision. Since Jerry Buss died in 2013, Jeanie Buss has had internal conflicts with her siblings, particularly Jim and Johnny, over the team's control. Though she eventually took full charge, the ongoing pressure of family politics may have pushed the family to sell the majority of stakes in Lakers.