The Buss family is selling the majority ownership of the Los Angeles Lakers to Mark Walter. The franchise is valued at around $10 billion, the highest figure ever recorded for a U.S. pro sports team.
They’ll retain just over 15%, which will amount to a minority stake, for now. Jeanie Buss isn’t going anywhere. She stays on as team governor and will run operations for years to come. That’s not optional; it’s baked into the deal. Walter didn’t just accept that condition; he backed it fully.
Walter, CEO and chairman of TWG Global, has been involved with the Lakers since 2021. That year, he bought Phil Anschutz’s 26% share and secured first refusal rights on any future majority sale.
TWG Global’s reach runs deep. They hold interests in the Los Angeles Dodgers, Los Angeles Sparks, Chelsea FC, and the Professional Women’s Hockey League. Through TWG Motorsports, Walter also owns elite racing teams, including a Cadillac Formula 1 entry.
After Jerry Buss died in 2013, team ownership transferred to a trust shared by his six children. Each held a role within the organisation. The team experienced a leadership crisis in 2017 after Jim was removed from basketball operations by her sister Jeanie Buss.
He and Johnny Buss tried to challenge her control. She went to court. She won. A formal agreement was then signed, naming her the controlling owner.
Now, the siblings have voted. The majority ruled. The sale to Walter moves forward.
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