The Buss family has officially agreed to sell a majority stake in the Los Angeles Lakers to businessman Mark Walter, in a historic deal that values the iconic NBA team at an impressive $10 billion. This transaction is set to establish a new record for NBA valuations, highlighting the soaring financial landscape of professional basketball.
According to sources familiar with the agreement, the sale does not include the Crypto.com Arena, where the Lakers play, as the arena is owned by AEG. This significant deal comes shortly after CNBC's latest official rankings placed the Lakers as the third most valuable team in the league, valued at $7 billion.
Mark Walter is not a newcomer to the Lakers; he has held a minority stake in the team since 2021. A representative for Walter confirmed the transaction in a statement to CNBC. The Lakers organization has yet to provide an official comment regarding the sale.
As part of this landmark deal, Jeanie Buss will retain a minority stake in the Lakers, a franchise her family has owned since 1979 when they purchased it for just $67.5 million. Additionally, she will maintain her position as the team’s governor, ensuring continuity in leadership during this transition.
Mark Walter is the co-founder and CEO of Guggenheim Partners and has a robust portfolio in sports ownership. He is already the majority owner of the Los Angeles Dodgers in MLB, the Los Angeles Sparks in the WNBA, and is also involved with the upcoming Cadillac Formula 1 team. Furthermore, he owns the Professional Women’s Hockey League, showcasing his diverse investments in the sports industry.
Former Lakers legend Earvin "Magic" Johnson, who is also a business partner of Walter's, took to social media platform X to commend the deal. He expressed his confidence in Jeanie Buss's decision, stating, “Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the Lakers legacy and tradition of winning. Mark Walter is the best choice and will be the best caretaker of the Laker brand.”
The recent surge in NBA valuations can be attributed to the league's lucrative media rights agreement, which is valued at $77 billion over 11 years. This financial boom is evidenced by the Boston Celtics' recent sale for a then-record $6.1 billion to private equity executive Bill Chisholm. Both the Celtics and Lakers are considered two of the most prestigious franchises in the NBA.
In February, the Lakers made headlines by acquiring Luka Doncic from the Dallas Mavericks, aiming to bolster their roster alongside superstar LeBron James. The Lakers concluded the 2025 season with a solid 50-32 record, securing the No. 3 seed in the Western Conference. Since the Buss family took ownership, the Lakers have clinched an impressive 11 NBA titles, the most by any franchise in that timeframe, further solidifying their legacy in the league.
This historic deal marks a new chapter for the Los Angeles Lakers as they continue to thrive in the competitive landscape of professional basketball.
— Report contributed by CNBC's Michael Ozanian.
