Los Angeles Lakers to Be Sold for Reported $10 Billion as Buss Family Cedes Control to Dodgers Owner Mark Walter

BREAKING — The Los Angeles Lakers, one of the NBA’s most iconic franchises, are being sold. According to ESPN insider Shams Charania, the Buss family is entering an agreement to sell majority ownership of the Lakers to billionaire Mark Walter, the CEO of Guggenheim Partners and current co-owner of the Los Angeles Dodgers. The deal, which is expected to be finalized pending approval from the NBA’s Board of Governors, would see Walter become the controlling owner of the franchise. Jeanie Buss, who has served as the team’s governor since 2013, will remain in her role even after the sale.

This stunning development marks the end of an era for the Buss family, which has held ownership of the Lakers since Dr. Jerry Buss purchased the team in 1979. Under the family’s stewardship, the Lakers won 11 NBA championships, developed global superstars like Magic Johnson, Kobe Bryant, and LeBron James, and became arguably the most glamorous brand in professional basketball.

But now, after more than four decades of family ownership, the Lakers are set to be led by a different kind of force — one shaped by deep capital, multi-franchise control, and corporate vision. Mark Walter’s arrival as majority owner could usher in a dramatically new chapter for the franchise, especially considering his track record with the Dodgers, who have enjoyed massive success under his leadership.

This bombshell deal comes just weeks after another NBA heavyweight, the Boston Celtics, was sold to tech investor Bill Chisholm for a record-setting $6.1 billion. That deal marked the most expensive sale of any U.S. sports franchise in history — until now. The Lakers’ reported $10 billion valuation not only obliterates the Celtics’ figure but also sets a new, staggering standard for what NBA franchises are worth.

For the NBA, this is uncharted territory. Two of the league’s most successful and influential franchises — with 35 combined championships — are changing hands within the same year. The Celtics, long owned by the Grousbeck family, and the Lakers, under the Buss dynasty, symbolized continuity and legacy in a rapidly commercializing sports world. That legacy now shifts to the hands of billionaires with corporate backing and global ambitions.

In Chisholm’s case, his motivation was deeply personal. “I bleed green. I love the Celtics. When this opportunity came up, I couldn’t pass it up,” he told ESPN shortly after the deal was announced. While his connection to Boston is rooted in childhood fandom, Mark Walter’s interest in the Lakers is more strategic. Already embedded in the Los Angeles sports scene through his work with the Dodgers, Walter’s acquisition of the Lakers puts him at the heart of a two-sport empire in the country’s second-largest media market.

His ownership of the Dodgers has produced remarkable results: 12 consecutive postseason appearances, 11 division titles, four National League pennants, and two World Series championships. He also helped turn the Dodgers into a model franchise for smart, sustained excellence. If those same principles are applied to the Lakers, the team could be poised for a return to long-term dominance.

Still, some fans may be apprehensive. The Buss family has represented more than just ownership — they’ve been the emotional core of the franchise. From Dr. Buss’s charisma and risk-taking, which included the groundbreaking hiring of Pat Riley and the acquisition of Shaquille O’Neal, to Jeanie Buss’s steady leadership in the modern era, the Lakers have always had an intimate connection to their owners. This sale signals a profound change in that identity.

Moreover, the sale reflects a broader shift across professional sports. As valuations skyrocket, traditional family ownership is being replaced by hedge funds, holding companies, and tech moguls. That shift brings greater resources but often comes with less emotional connection to the city and its fan base.

There are, of course, questions that now hang over this monumental transaction. What happens to the current front office, led by Rob Pelinka? Will head coach Darvin Ham be retained under the new ownership? And how will the Lakers approach free agency and the trade market now that Walter is in control? The Lakers missed the NBA Finals again this year and appear to be at a crossroads, with aging superstar LeBron James contemplating retirement or a move to play alongside his son, Bronny.

Then there’s the business side. Will Walter aim to build a new state-of-the-art arena or stick with Crypto.com Arena? Will he lean into global expansion, perhaps drawing on Guggenheim’s international financial reach to grow the Lakers brand in Asia and Europe?

From a league perspective, NBA Commissioner Adam Silver has long supported responsible ownership transitions, especially ones that inject new energy and capital into the league’s flagship franchises. But even Silver would have to acknowledge that these two sales — Boston and L.A. — happening in the same offseason, represent a sea change in how the league operates. The NBA has always balanced legacy with innovation, but with family owners exiting, the balance now tilts heavily toward corporate scale.

Perhaps the most symbolic element in all of this is timing. The Lakers and Celtics, tied at 17 NBA championships each, are in a perpetual duel for supremacy. Now, their new billionaire owners are set to lead the next phase of that rivalry. Chisholm, fueled by lifelong Celtics pride, and Walter, with a proven track record and financial clout, are poised to steer these storied franchises into a new frontier of the NBA.

The Lakers’ reported $10 billion price tag not only dwarfs any previous sale but also signals how global the NBA has become. With the league aiming for international expansion, possibly including future franchises in cities like Mexico City or even abroad, owners like Walter fit the profile of visionaries who can take the NBA into its next era.

In the short term, expect a whirlwind of reactions. Fans will dissect every detail, every move, every press conference. Legacy media will analyze what the sale means for the franchise’s culture, while newer outlets will focus on the implications for player movement and branding. What’s clear is that the spotlight is now even brighter on the Lakers — and for a franchise used to the glare of Hollywood, that’s saying something.

The NBA Board of Governors must still approve the deal, but no significant opposition is expected. Walter’s financial background, success in sports, and local ties make him a palatable successor in the eyes of the league’s power brokers.

As Jeanie Buss prepares to hand over majority control but remain in her post, she will likely focus on continuity — ensuring that the Lakers don’t lose their soul amid the influx of capital. But even with her staying involved, the reality is this: a new power structure is forming.

The torch is being passed. The Buss family era is ending. And the Los Angeles Lakers, after more than 40 years, are becoming something new. In the ever-evolving drama of the NBA, this may be one of its most consequential plot twists yet.

The sports world is watching. The fans are waiting. The next chapter in Lakers history is being written — right now.