The Buss era is closing its final chapter. After forty-six years of family control, the Los Angeles Lakers are being sold. The deal is real. The buyer is Mark Walter, the billionaire behind Guggenheim Partners and the man who already owns the Dodgers, the Sparks, and a piece of Chelsea FC. The price tag is $10 billion. That’s not a typo. That’s the largest sale of a sports franchise in history. The ink isn’t dry yet, but the agreement is in place. The Buss family is stepping back. Jeanie Buss will stay on as team governor, but the majority stake is changing hands.
The numbers are staggering. Jerry Buss bought the Lakers in 1979 for $67.5 million. That deal included the Forum and the Kings. Today’s valuation puts the Lakers ahead of every other franchise in the world. The Celtics sold earlier this year for $6.1 billion. The Knicks are still privately held. The Warriors haven’t moved. The Lakers just set the bar. This isn’t a sale. It’s a reset of the entire sports economy.
Walter already owned 27 percent of the Lakers. That stake came with a right of first refusal. When the Buss family decided to sell, he exercised it. The deal includes a controlling interest, though the exact percentage hasn’t been disclosed. What’s clear is that Walter now controls the most iconic brand in basketball. He’s not new to this. Since buying the Dodgers in 2012, he’s turned them into a perennial contender with two World Series titles and a payroll that never blinks.
The Buss family held on longer than most. Jerry Buss ran the team like a showman. Jeanie took over after his death in 2013. Under their watch, the Lakers won 11 championships, built dynasties, and turned purple and gold into a global brand. But the economics shifted. Private equity moved in. Franchise values exploded. The Buss trust couldn’t match the firepower of institutional capital.
The Lakers are not just a team. They are a media property, a real estate asset, a global brand, and a political force in Los Angeles. Walter’s group brings deep pockets and a track record of aggressive investment. That means more spending, more infrastructure, and likely more pressure. The Lakers just traded for Luka Dončić. LeBron is still on the roster. The window is open. The expectations are sky high.
Sources:
https://www.cbsnews.com/losangeles/news/los-angeles-lakers-sale-buss-family-mark-walter/