Lakers sold to Mark Walter: Why Jeanie Buss is selling the iconic NBA team and for how much?
Posted on: Jun 19, 2025 03:13 IST | Posted by: Hindustantimes
The Buss fellowship has in agreement(p) to sell a legal age post in the Los Angeles Lakers to Mark Walter, the CEO and chairman of holding company TWG Global, ESPN reported on Wednesday. This marks the end of an era for one of the NBA's most influential families. Neither Walter nor the Lakers have made a statement about the reported sale.
The late Jerry Buss purchased the Lakers in 1979. He died in 2013, leaving the franchise to his children. His daughter, Jeanie Buss, took over as principal owner. She will stay on as governor after the sale, ESPN's Shams Charania reported.
The Buss family agreed to sell the majority ownership of the Los Angeles Lakers to Mark Walter for approximately $10 billion, ESPN reported.
The Buss family’s decision to sell their 66% stake, held since Jerry Buss purchased the Lakers in 1979 for $67.5 million, stems from multiple factors. First, the franchise’s skyrocketing valuation—up from $7 billion in early 2025, as per Forbes—presents a lucrative exit opportunity, especially as NBA team values soar with global growth and media deals.
The Lakers’ $400 million annual TV and streaming revenue, renegotiated in 2022, underscores this financial appeal. Second, internal family dynamics may play a role. After Jerry Buss’s death in 2013, Jeanie faced power struggles with siblings Jim and Johnny, consolidating control but possibly straining family unity.
The deal values the Lakers at $10 billion, surpassing the Boston Celtics’ $6.1 billion sale in March 2025. While exact terms remain undisclosed, the Buss family’s 66% stake suggests a payout of roughly $6.6 billion, though Walter likely purchased a portion of this, not the full $10 billion.
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