Historic day in the NBA: Lakers sold
The NBA’s Board of Governors has voted unanimously in favor of the sale of the Los Angeles Lakers’ majority interest.
The news that emerged over the summer has now been confirmed: the Los Angeles Lakers have officially been sold. In a unanimous vote, the NBA’s Board of Governors approved the transfer of majority ownership to Mark Walter, CEO of TWG Global and a familiar figure in the sports world. This marks the end of an era for the Buss family, who have helmed the franchise since 1979 and guided it to 11 NBA championships.
Under the Buss family’s stewardship, the Lakers became synonymous with winning. Five titles came during the Magic Johnson-led “Showtime” era, three during the dominant run of Shaquille O’Neal and Kobe Bryant, two more with Kobe and Pau Gasol, and the most recent in 2020 with LeBron James at the helm.
A new chapter begins
“Mark Walter has a long association with our leagues, having served as a minority owner of the Lakers and as the principal owner of the WNBA’s [Los Angeles] Sparks for more than a decade,” NBA Commissioner Adam Silver said in a statement. “As Mark assumes his role as majority owner of the Lakers, I have no doubt that he will be a committed steward of the team and a great addition to our league given his many successful ventures in business and sports.”
Silver paid tribute to the outgoing owners: “I also want to thank and congratulate Jeanie Buss and the Buss family for 46 years of transformational leadership and service. While this historic transaction transfers the Buss family’s majority interest in the Lakers, I am thrilled that Jeanie will remain the team’s Governor and an active and engaged member of our league.”
That final note is key. Despite the sale, Jeanie Buss will retain her role as team Governor for at least the next five years, ensuring continuity in leadership and maintaining the Buss family’s connection to one of the NBA’s most iconic franchises.
The NBA Board of Governors has unanimously approved the sale of the majority interest in the Los Angeles Lakers to Mark Walter. pic.twitter.com/6YKmyvHDx5
— NBA Communications (@NBAPR) October 30, 2025
The numbers behind the deal
While the exact financial terms haven’t been officially disclosed, reports suggest the sale was completed at a staggering valuation of $10 billion, making it the largest sale of a professional sports franchise in history. For context, Sportico had previously valued the Lakers at $8 billion, and Forbes at $7.1 billion. Some analysts believe the final valuation could climb as high as $12 billion, nearly double the $6.1 billion paid for the Boston Celtics earlier this year.
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