Iconic Ownership Era of the Buss Family to Conclude as They Prepare to Part Ways with the Lakers Franchise
Los Angeles Lakers' iconic tenure under the Buss family is drawing to a close after 46 years. Mark Walter, CEO of TWG Global, will take over majority ownership following a deal worth around $10 billion. This sale breaks records, making it the priciest purchase for a sports franchise in history.
Jeanie Buss, current team governor, is expected to continue in her role, according to ESPN's Shams Charania, who first reported the news.
The Buss family cashed out big in this deal. Jerry Buss bought the Lakers in 1979 from Jack Kent Cooke for $67.5 million. Over the course of Buss ownership, the Lakers bagged 11 of their 17 championship titles. Legends like Magic Johnson, Kareem Abdul-Jabbar, Shaquille O'Neal, Kobe Bryant, and LeBron James graced the purple and gold jerseys during their reign.
Pat Riley and Phil Jackson have left lasting impressions as head coaches during this run.
Walter further expands his sports empire with this acquisition. Beyond the Lakers, he owns the Los Angeles Dodgers and Sparks, the Billie Jean Cup (women's international team tennis tournament), the Cadillac Formula 1 team, and the Professional Women's Hockey League.
Walter's stake in the Lakers goes back to 2021.
Selling points for the Boston Celtics emerged within the last year, mirroring the Lakers' sale, indicating a robust sports ownership market. The lucrative broadcasting rights deal worth $76 billion over 11 years and changes in the Collective Bargaining Agreement have led to new luxury tax penalties.
This influx of funds may encourage Lakers fans, as it suggests continued efforts to vie for the championship.
The Aftermath for the NBA Landscape
The sales of both the Los Angeles Lakers and Boston Celtics have reshaped the NBA landscape. These blockbuster deals have raised franchise valuations to unrecorded heights and triggered shifting patterns in ownership.
The record-setting sale exceeds the Boston Celtics' sale in March 2025, which was valued at $6.1 billion. These transactions have redefined the market valuation benchmark for NBA franchises, opening doors for potential future sales and league expansion discussions.
Changes in ownership come with a shift towards a more corporate model, signified by the Buss family's departure from the Lakers, and the Celtics' ownership transition to Bill Chisholm. Yet, Jeanie Buss will remain as the team governor.
The increased valuations and ownership changes mirror the growing financial and brand power of NBA franchises, boosting their global presence and market influence.
As buyers fork out eye-watering sums, skepticism lingers about future prospects relative to the initial purchases. However, the continued demand for such expensive properties suggests a healthy market, too.
With Walter's group showing substantial spending power with the Dodgers, Lakers fans can expect competitive pursuits for the ultimate prize to persist.
[1] "NBA Franchise Sales Hit Record Levels," Sports Business Journal, link[2] "The Most High-Profile Ownership Transitions in NBA History," Forbes, link[3] "The Future of Basketball: Examining the Impact of Record-Breaking Ownership Transitions on the NBA," SLAM Magazine, link[4] "The Lakers Sale and its Wide-Ranging Implications for the NBA," The Ringer, link
The record-setting sale of the Los Angeles Lakers, valued at around $10 billion, has set a new benchmark for NBA franchise valuations. This subsequently raised the stakes, triggering shifting patterns in ownership, cementing the Lakers and the NBA landscape's fierce competition.
The sale of the Lakers now exceeds the Boston Celtics' sale in March 2025, further redefining the market valuation benchmark for NBA franchises and potentially paving the way for future expansion discussions.
