Buss Family Sells Controlling Stake in Lakers for $10 Billion, Ending 45-Year Era of Family Ownership
- Victor Nwoko
- Jun 19
- 3 min read
The Buss family has sold a controlling stake in the Los Angeles Lakers at a record-breaking $10 billion valuation, ending a 45-year reign over one of the NBA’s most iconic franchises. The sale marks the conclusion of an era defined by glitz, championships, and family drama, and ushers in a new chapter led by billionaire investor Mark Walter.
The Lakers, under the stewardship of Jerry Buss and later his daughter Jeanie Buss, have long been a symbol of success, celebrity, and the unique intimacy of a family-run sports empire. Their departure signals a seismic shift as ownership of the storied franchise transitions to a consortium with deep pockets and a proven track record.
Walter, who already held a 27% stake in the Lakers from a 2021 purchase, finalized the deal to acquire controlling interest through his firm Guggenheim Partners, which manages an estimated $325 billion in assets. Walter is best known in Los Angeles for reviving the Dodgers into a perennial World Series contender after acquiring the team in 2012 for $2 billion.
Jeanie Buss, who has served as Lakers governor since her father’s passing in 2013, is expected to remain in her role for now, retaining at least a 15% stake as required by NBA rules. The sale will make her one of the wealthiest women in American sports. Jeanie has not publicly explained her reasons for the sale but has expressed deep trust in Walter’s leadership and commitment to Los Angeles.
Walter’s acquisition is already being met with optimism from Lakers fans and insiders who view the move as a boost to the team’s competitiveness. His financial capacity is expected to eliminate past budget constraints that critics say limited player acquisition, scouting, and team infrastructure. The Lakers now join a growing list of teams benefiting from corporate-style ownership with access to substantial capital and strategic expertise.
Former Lakers legend Magic Johnson praised the decision: “I know that my sister Jeanie would have only considered selling the Lakers organization to someone she knows and trusts would carry on the Buss legacy. She’s witnessed Mark build a winning team with the Dodgers and knows that he will do right by the Lakers team, organization, and fans.”
The Lakers were originally acquired by Jerry Buss in 1979 for $67.5 million in a deal that also included the NHL’s Kings, the Forum arena, and a ranch. The real estate mogul, known for his charisma and love of entertainment, turned the Lakers into a global brand during the Showtime era with stars like Magic Johnson and Kareem Abdul-Jabbar. He later brought in Shaquille O’Neal and Kobe Bryant, securing 10 NBA championships during his 34-year ownership.
Jeanie Buss inherited the franchise and oversaw key decisions, including the hiring of Rob Pelinka and Magic Johnson. Under her leadership, the team won the 2020 NBA Championship and recently acquired superstar Luka Doncic in a blockbuster trade, signaling a strong post-LeBron James future.
The sale of the Lakers follows similar moves by high-profile NBA owners. Jeanie Buss is close friends with Mark Cuban, who sold his majority stake in the Dallas Mavericks for $3.5 billion, and Wyc Grousbeck, who recently sold the Boston Celtics for $6.1 billion.
This sale may become the most lucrative transaction in professional sports history, highlighting the growing trend of legacy franchises transitioning into the hands of global investors equipped to thrive in the increasingly competitive and corporate world of modern sports.
Kommentare