Mark Walter finalizes his purchase
of a majority stake in the Los Angeles Lakers
[October 31, 2025]
By GREG BEACHAM
LOS ANGELES (AP) — Mark Walter is the majority owner of the Los
Angeles Lakers after the NBA Board of Governors approved his
purchase of a controlling stake from the Buss family.
The Lakers and the league confirmed the next step Thursday in a
transaction that is expected to close shortly. The sale of the NBA’s
most valuable franchise was initially announced in June.
Jeanie Buss will remain the Lakers’ governor under the deal for at
least the next five years, and she will oversee day-to-day
operations “for the foreseeable future,” the team said. Her father,
Jerry Buss, bought the Lakers in 1979.
But the Lakers are now primarily owned by Walter, the billionaire
who is the controlling owner of the Los Angeles Dodgers and the
WNBA’s Los Angeles Sparks among his numerous sports investments. His
TWG Global holding company is also the majority owner of the new
Cadillac Formula 1 team, which begins competition next year.
Walter bought a 27% minority stake in the Lakers in 2021 before the
current sale, which was completed with a franchise valuation of $10
billion — the highest ever set for a pro sports team.
“The Los Angeles Lakers are one of the most iconic franchises in all
of sports, defined by a history of excellence and the relentless
pursuit of greatness,” Walter said in a statement. “Few teams carry
the legacy and global influence of the Lakers, and it’s a privilege
to work alongside Jeanie Buss as we maintain that excellence and set
the standard for success in this new era, both on and off the
court.”
The Lakers have won 17 NBA championships and built a worldwide fan
base through decades of consistent winning with many of the most
famous players in basketball history, from George Mikan to LeBron
James.
“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 Sparks for more than a decade,” NBA commissioner Adam Silver
said. “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."
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Los Angeles Dodgers owner and chairman Mark Walter speaks during a
ceremony to honor the Major League Baseball 2024 World Series
Champion team in the East Room of the White House, Monday, April 7,
2025, in Washington. (AP Photo/Evan Vucci, File)
Jerry Buss bought the Lakers, the NHL’s Los Angeles
Kings and the Forum arena from Jack Kent Cooke for $67.5 million.
Silver said he is “thrilled” that Jeanie Buss will remain “an active
and engaged member of our league.”
Lakers fans are hoping Walter can match his success with Los
Angeles' other traditional marquee sports franchise.
Since Walter took over the Dodgers in 2012, the team has made 13
consecutive playoff appearances while winning five NL pennants and
two World Series titles. The Dodgers will play Game 6 of the current
World Series on Friday night in Toronto.
“Over the past decade, I have come to know Mark well — first as a
businessman, then as a friend, and now as a colleague,” Jeanie Buss
said. “He has demonstrated time and time again his commitment to
bringing championships to Los Angeles, and on behalf of Lakers fans
everywhere, I am beyond excited about what our future has in store.”
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