Lakers Sold to Mark Walter for $10 Billion

The Buss family is selling the Los Angeles Lakers to Mark Walter, chairman of TWG Global and owner of both the Los Angeles Dodgers and Chelsea FC, for a record-breaking $10 billion—the highest valuation for a US sports franchise. Jeanie Buss will remain as team governor and retain a 15% minority stake, ensuring continuity in leadership. The sale ends the Buss family's 46-year majority ownership, though their legacy will continue through Jeanie and the retained stake. Magic Johnson and other insiders have praised Walter's track record, especially with the Dodgers, as a positive indicator for the Lakers' future. The sale is partly driven by financial considerations regarding the Lakers' lucrative but potentially uncertain local TV deal, aiming to strengthen the franchise amid shifting sports media dynamics. The deal has sparked optimism about future competitiveness as well as nostalgia for the Buss family's deep-rooted connection to the team.