Major Shakeup in Basketball: The Buss Family Sells Majority Stake of the Lakers
The iconic Los Angeles Lakers, a team synonymous with basketball excellence, are undergoing a monumental change. The Buss family has reached an agreement to sell the majority ownership of the franchise to Mark Walter, the owner of the Los Angeles Dodgers, a source confirmed to CNN. This marks a pivotal moment not just for the Lakers, but also for the landscape of professional sports.
A Record-Setting Deal
The valuation associated with this historic agreement is an astounding $10 billion, making it the most lucrative deal for any professional sports team to date, as reported by the Associated Press. This figure underscores the Lakers’ tremendous market value and their role as a prominent franchise in professional sports.
Behind the Deal: Mark Walter
Mark Walter isn’t just the controlling owner of the Dodgers; he is also the CEO of TWG Global, a diversified holding company with stakes in various sports teams. These include the WNBA’s Los Angeles Sparks, the Premier League’s Chelsea FC, and even the newly formed Cadillac Formula One team set to debut in 2026. Walter’s extensive portfolio and audacious investment strategy suggest that he has significant plans for the Lakers.
The Buss Legacy
The Lakers have been under the stewardship of the Buss family since Jerry Buss purchased the team in 1979. Under his guidance, the franchise won 10 NBA titles and became a cultural icon. Following Jerry Buss’s death in 2013, his daughter Jeanie Buss took over the role of governor, continuing a rich legacy steeped in success. Notably, under her management, the Lakers added another Larry O’Brien trophy to their collection in 2020, championed by superstar LeBron James.
Recent Performance and Future Outlook
In the previous NBA season, the Lakers showcased a promising performance, finishing third in the Western Conference with a solid 50-32 record, although they were eliminated in the first round of the playoffs by the Minnesota Timberwolves. LeBron James, now in his 22nd NBA season, demonstrated his enduring talent by averaging 24.4 points, 7.8 rebounds, and 8.2 assists per game.
In an unexpected turn, the Lakers executed a blockbuster trade, acquiring NBA superstar Luka Doncic from the Dallas Mavericks, a move that sent shockwaves through the league. This trade, which included sending Anthony Davis, Max Christie, and a 2029 first-round draft pick to Dallas, not only restructured the Lakers’ roster but also positioned them as a formidable force in the coming seasons.
The Basketball Dynamics Ahead
As the offseason unfolds, LeBron James has reportedly signed a significant two-year, $104 million maximum contract to remain with the Lakers, complete with a player option for the subsequent season. Team president of basketball operations Rob Pelinka has indicated that James will be actively monitoring roster improvements, hinting at an exciting development phase for the Lakers.
Despite the transition in ownership, Jeanie Buss is expected to maintain her role within the franchise, ensuring continuity in leadership as the team embarks on this new chapter.
The sale of the Lakers not only reflects the franchise’s immense value but also hints at the shifting dynamics in the world of sports ownership. With Mark Walter at the helm, the Lakers may be on the brink of an exciting new era, filled with potential and innovation. As fans and analysts watch closely, one can only speculate what this change will bring for the storied franchise and its dedicated fanbase.
