The Los Angeles Lakers have been sold to Mark Walter, the chairman and controlling owner of the Los Angeles Dodgers, in a record-breaking $10 billion deal. This transaction marks the largest sale of a professional sports franchise in U.S. history, surpassing the $6.1 billion sale of the Boston Celtics.
Mark Walter is a billionaire businessman with a diverse portfolio, including ownership stakes in several sports teams such as the Los Angeles Dodgers, Chelsea FC, Los Angeles Sparks, and the Professional Women’s Hockey League. He has a proven track record of success in sports ownership, particularly with the Dodgers, whom he has led to two World Series championships since 2012.
The sale ends the 46-year ownership of the Lakers by the Buss family, who purchased the team in 1979 for $67.5 million. Jeanie Buss, the team’s governor and president, will retain a minority stake of 15% and continue in her role, ensuring continuity in the team’s leadership. She will oversee basketball and business operations and represent the team at NBA Board of Governors meetings.
Walter’s acquisition of the Lakers is expected to bring significant changes, with potential investments in player development, team facilities, and global brand expansion. Magic Johnson, a Lakers legend and business partner of Walter’s, has praised the sale, stating that Walter is driven by winning, excellence, and doing things the right way, and will put in the resources needed to win.
The deal has sparked comparisons to the recent sale of the Dallas Mavericks, where Mark Cuban sold a majority stake but retained control of basketball operations. Similarly, Jeanie Buss will remain the visible face and voice of the franchise, but the financial muscle now belongs to Mark Walter
