Jeanie Buss (L) and Mark Walter attend a Lakers game against the Golden State Warriors at Crypto.com Arena. Allen Berezovsky / Getty Images
The NBA Board of Governors has officially approved the sale of the Los Angeles Lakers to Mark Walter, the league announced Thursday.
Walter, CEO of Guggenheim Partners and owner of the Los Angeles Dodgers, now controls both of LA’s marquee sports franchises. The group took over the Dodgers in 2012.
Walter had already held a 27 percent minority stake in the Lakers, purchased in 2021. In June, he reached an agreement to acquire the Buss family’s controlling interest at a record $10 billion valuation — the highest ever for an American sports franchise, surpassing the Boston Celtics’ $6.1 billion valuation.
The Los Angeles Lakers have been sold pic.twitter.com/4VJqpCDRzk
— Dan Woike (@DanWoikeSports) October 30, 2025
Jeanie Buss will remain the team’s governor for a period of at least five years and retain a 15 percent stake. She has been governor and controlling owner since 2017.
The purchase officially ends the Buss family’s nearly five-decade control of the Lakers, a tenure that began when Jerry Buss bought the team, along with the NHL’s Kings and the Forum, for $67.5 million in 1979.
Walter’s acquisition marks a new era for one of basketball’s storied franchises, as the Lakers transition from family legacy to corporate ownership under one of the wealthiest figures in American sports.
Oct 30, 2025
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