BLOCKBUSTER LAKERS BOMBSHELL: Buss Family Strikes Stunning Deal to Sell Majority Ownership to TWG Global Billionaire Mark Walter — Jeanie Buss to Stay On as Governor as New Era Dawns in Los Angeles
In move that has sent shockwaves throughout the sports world, the iconic Buss family—stewards of one of the most storied franchises in NBA history a—has reached a landmark agreement to sell majority ownership of the Los Angeles Lakers to billionaire Mark Walter, the CEO and chairman of TWG Global. Sources close to the situation revealed the monumental development through NBA insider Shams Charania, immediately sparking widespread reaction from fans, analysts, and league insiders alike. Jeanie Buss, who has served as Governor and the face of the franchise’s leadership since the passing of her father Dr. Jerry Buss, will remain in her executive role as part of the transition, ensuring a sense of continuity amid one of the most seismic shifts in team ownership the NBA has seen in decades.
This deal signals the end of an era and the beginning of another. The Buss family’s connection to the Lakers spans over four decades, beginning in 1979 when Dr. Jerry Buss famously purchased the team and turned it into not only a basketball powerhouse but also a global entertainment brand. Under the Buss family’s leadership, the Lakers won 11 NBA championships, cultivating a culture of excellence that attracted legends like Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, and LeBron James. That legacy, however, is now set to enter a new chapter under the guidance of Mark Walter, a billionaire investor with a growing presence in the sports world and a reputation for strategic, long-term thinking.
Walter is no stranger to high-stakes sports investments. He is a principal owner of the Los Angeles Dodgers and also holds stakes in the WNBA’s Los Angeles Sparks and the Premier League’s Chelsea Football Club. His involvement in these franchises has generally been marked by stability, strategic spending, and an emphasis on competitive success paired with commercial growth. With his company TWG Global expanding its reach across global sports, the acquisition of the Lakers cements Walter’s influence in American and international sports at the highest level.
Although the financial terms of the agreement have not yet been disclosed, the sale represents one of the most valuable ownership transactions in professional sports history. Forbes recently valued the Lakers at over \$6 billion, second only to the Golden State Warriors in the NBA. The magnitude of the deal underscores not only the Lakers’ financial power but also the league’s growing global appeal and the increasing interest among ultra-wealthy investors in acquiring marquee sports properties.
For longtime Lakers fans, this moment will be met with a mix of nostalgia, concern, and curiosity. The Buss family has been more than just an ownership group; they’ve been the emotional and cultural compass of the franchise. From courtside celebrations to behind-the-scenes executive decisions, the Buss name has been synonymous with Lakers identity. Jeanie Buss’s decision to stay on as Governor is likely a strategic and symbolic one, meant to preserve the team’s cultural DNA while ushering in the financial muscle and global business acumen of Mark Walter.
The timing of the deal is also notable. The Lakers are coming off a turbulent season, marked by injuries, inconsistent performance, and questions about their long-term direction. With LeBron James nearing the twilight of his career and uncertainty surrounding the team’s next superstar, the organization faces significant strategic decisions in the immediate future. This ownership transition provides both a challenge and an opportunity: the challenge of navigating change without alienating a fiercely loyal fanbase, and the opportunity to reimagine the franchise’s path forward with new resources, perspectives, and ambitions.
Sources familiar with the transition suggest that Walter intends to respect the Lakers’ legacy while bringing a new level of strategic investment into infrastructure, analytics, and player development. The goal, they say, is not to overhaul the Lakers’ image but to enhance and future-proof it. This may include investments in cutting-edge sports technology, international branding initiatives, and potentially, deeper partnerships with other sports entities in Walter’s growing portfolio. His track record suggests a patient yet purposeful approach, blending tradition with innovation.
Meanwhile, Jeanie Buss’s continued involvement is expected to provide a stabilizing influence, both within the organization and among its fanbase. Since taking over as controlling owner, Jeanie has navigated challenges including the passing of her father, internal family power struggles, coaching changes, and roster overhauls. Her leadership was instrumental in bringing LeBron James to Los Angeles and delivering the 2020 NBA championship in the Orlando bubble—an achievement that carried emotional and symbolic weight amid the global pandemic and following the tragic death of Kobe Bryant.
Jeanie has also been a fierce advocate for maintaining the Lakers’ community ties, social impact initiatives, and player empowerment values. Her staying on as Governor ensures that the essence of the Lakers remains intact, even as the financial and executive structures evolve under TWG Global’s stewardship. The collaboration between her and Walter will be critical in determining how successfully this transition unfolds.
Around the league, reactions to the sale have been swift and significant. Executives are watching closely to see how this impacts the NBA’s broader ownership landscape. With valuations soaring and private equity firms increasingly eyeing minority stakes in teams, the entrance of another high-profile billionaire into majority control of a flagship franchise like the Lakers is expected to further fuel competition and recalibrate ownership dynamics. It also raises questions about the long-term stability of family-owned franchises in an era where global capital is flooding into American sports leagues.
Players past and present have also weighed in. Several former Lakers legends have expressed support for Jeanie Buss and optimism about what Walter’s involvement could mean for the franchise’s future. Magic Johnson tweeted his confidence in Jeanie’s leadership and applauded her decision to embrace a partner with deep Los Angeles roots and a proven sports investment record. Current players, while caught off guard by the news, are reportedly intrigued by what the deal could mean in terms of resources and team-building moving forward.
Fans, however, are experiencing a wide range of emotions. For many, the Lakers are not just a basketball team but a generational family tradition. The idea of the Buss family no longer holding majority ownership is difficult to process. Social media lit up with tributes to Dr. Jerry Buss and messages of gratitude for the family’s decades-long commitment to the team. At the same time, there is cautious optimism that Walter’s financial backing and strategic vision could help restore the Lakers to perennial championship contention.
This development also comes at a time when the NBA itself is evolving. With the league expanding its international footprint, embracing digital platforms, and preparing for a potential expansion of teams, the Lakers’ new ownership structure may position them at the forefront of this new era. Walter’s business interests and connections could play a role in helping the NBA explore untapped revenue streams and partnerships, further solidifying the Lakers as a cornerstone of the league’s global strategy.
Ultimately, the sale marks a profound moment in NBA history—one that blends the end of an illustrious chapter with the beginning of a new, ambitious one. The Lakers are more than a team; they are a symbol of excellence, glamour, and resilience. The Buss family’s decision to entrust that legacy to Mark Walter is a bold and calculated step that reflects both the challenges and the opportunities of modern professional sports.
As the ink dries on this blockbuster agreement, one thing is certain: the spotlight in Los Angeles just got even brighter. With Jeanie Buss’s guiding hand and Mark Walter’s financial and strategic firepower, the Lakers are poised to enter a new age—one that promises innovation, investment, and an unrelenting pursuit of greatness. The purple and gold torch has been passed, not extinguished. And with it, the next act in the Lakers’ legendary story begins.
