The Los Angeles Lakers, a team that has reigned over the NBA since 1979 under the Buss dynasty, is finally up for sale. Jeanie Buss, the daughter of Jerry Buss, will sell the franchise to Mark Walter, a prominent financier, in a deal valued at $10 billion. This makes it the largest sports sale in history.
The Buss family’s control over the team was not permanent, with a trust established by Jerry Buss that would end with his six children. However, Jeanie Buss will continue to serve as the team’s governor after the deal is finalized, according to sources.
Mark Walter, who has been a minority owner for the past four years, acquired the right of first negotiation in 2021 and ultimately made an offer the family couldn’t resist. His investment strategy and approach to ownership have raised questions about how he will impact the Lakers’ future.
Walter’s experience running the Los Angeles Dodgers, where the team has won multiple championships and invested heavily in talent and infrastructure, may hold clues to his plans for the Lakers. The Dodgers are known for their ability to outspend their rivals on payroll while also investing in front office talent, analytics, and player development.
Under Walter’s leadership, the Lakers could become a model of success in both big-market largesse and small-market ingenuity. They already have a strong local broadcast contract, and with their new ownership, they may be able to attract top talent without exceeding the NBA’s salary cap.
The sale marks the end of one era for the Lakers and the beginning of another. With Walter at the helm, the team may undergo significant changes, but it is unclear whether this will ultimately benefit or harm their chances of success.
As teams become increasingly valuable businesses, owners are coming from finance and tech backgrounds to run their organizations. Mark Walter’s purchase of the Lakers signals a shift in ownership dynamics, with the team likely to be part of an “arms race” for success.
The impact of Walter’s ownership will remain to be seen, but his experience with the Dodgers suggests that he is committed to winning and providing resources to support the team. With the local TV market in flux, the Lakers’ new ownership may also provide a boost to their chances of dominance in the league.
Source: https://www.nytimes.com/athletic/6436802/2025/06/19/lakers-jeanie-buss-mark-walter-nba-ownership