The majority ownership of the Los Angeles Lakers, one of the most iconic franchises in global sports, is being sold in what is expected to become the most expensive sale of a U.S. sports team ever, according to a source familiar with the transaction.
The Buss family, which has controlled the team since 1979, has reportedly reached an agreement with Mark Walter, CEO of TWG Global. The deal is estimated to be worth around $10 billion (£7.45 billion), though that figure could rise once the transaction is finalized.
Walter, who also holds a controlling interest in Major League Baseball’s Los Angeles Dodgers—World Series champions last year—has been a minority stakeholder in the Lakers since 2021, owning 20% of the franchise. He also has major investments in global sports, including Chelsea Football Club and the Cadillac Formula 1 Team, which plans to debut in 2026.
A spokesperson for Walter’s firm confirmed the deal, stating: “Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, of which he has been a stakeholder since 2021.”
This historic deal follows the recent $6.1 billion sale of the Boston Celtics to Bill Chisholm in March—then the highest price paid for a U.S. sports team. That record had only just eclipsed the $6.05 billion sale of the Washington Commanders NFL team in 2023.
The Lakers’ valuation reportedly exceeds $10 billion, making this sale roughly $4 billion more than any previous franchise deal in U.S. sports history.
Originally purchased by Jerry Buss in 1979 for $67.5 million—a deal that also included the Los Angeles Kings hockey team and the Kia Forum arena—the Lakers have enjoyed enormous success under the Buss family, appearing in 17 NBA Finals and winning 11 championships.
Following Jerry Buss’s death in 2013, control of the team passed to his six children via a trust, with the family currently owning a 66% stake. Jeanie Buss has served as team governor since then and is expected to retain her role under the new ownership structure.
According to the Los Angeles Times, any sale required the majority consent of the Buss siblings as stipulated by the family trust. The Lakers, led by LeBron James, have reached the playoffs for the past three seasons but have not advanced to the Finals.
