Mark Walter’s $10 Billion Deal Marks Record Sale for Lakers

In a landmark moment for American sports, the Los Angeles Lakers are poised to be sold in a monumental $10 billion deal — the most expensive franchise sale in U.S. history — according to ESPN.

The transaction will see billionaire investor Mark Walter acquire the controlling stake in the storied NBA team from the Buss family, effectively ending their 46-year stewardship of the franchise. Jeanie Buss, however, will stay on as the team’s governor, preserving a symbolic thread of continuity.

Walter, CEO of TWG Global, already owns minority stakes in several major sports properties, including the Los Angeles Dodgers, the WNBA’s Los Angeles Sparks, and Premier League powerhouse Chelsea FC. TWG’s growing empire also includes the Billie Jean King Cup and the Cadillac Formula One team, underlining Walter’s aggressive push into elite global sports.

NBA Hall of Famer and Lakers legend Earvin “Magic” Johnson, a longtime ally of Walter’s, applauded the decision on social media.

“Laker fans should be ecstatic,” he wrote on X. “Mark is driven by winning, excellence, and doing everything the right way. He will invest whatever it takes to win.”

Johnson pointed to Walter’s stewardship of the Dodgers as evidence of his capability. Since Walter took over, the baseball team has clinched two World Series titles and signed global sensation Shohei Ohtani to a $700 million deal — the largest in MLB history.

“Mark is the best choice and will be the best caretaker of the Lakers brand,” Johnson added. “He’s a proven winner.”

The deal not only shatters financial records but also signals the end of an NBA dynasty helmed by the Buss family since 1979. Jerry Buss famously bought the Lakers that year and turned them into a global basketball juggernaut, overseeing 11 NBA titles, the iconic “Showtime” era, and the championship runs of Kobe Bryant and, most recently, LeBron James.

The Lakers’ 17th title, won in the 2020 NBA bubble, was seen as a return to form under Jeanie Buss. Earlier this year, the franchise shocked the basketball world again by acquiring Luka Dončić from the Dallas Mavericks.

Walter originally joined the Lakers ownership group in 2021 and held a first-refusal clause should the Buss family sell — a clause now activated to secure full control in this historic handover.

This $10 billion sale surpasses all previous sports franchise deals in America. It eclipses the $6.1 billion spent on the Boston Celtics earlier this year, and the $6.05 billion paid for the NFL’s Washington Commanders in 2023.