Breaking: The Los Angeles Lakers Have Been Sold for $10 Billion in Historic Deal to Mark Walter of TWG Global

In one of the most jaw-dropping developments in sports business history, the Los Angeles Lakers—one of the most iconic franchises in all of professional sports—have been sold. According to ESPN insider Shams Charania, the Buss family has reached an agreement to sell the majority ownership stake in the team to billionaire Mark Walter, the CEO and chairman of diversified holding company TWG Global. The deal, reportedly valued at a staggering $10 billion, now stands as the largest sale of a professional sports franchise in the world.

Walter, who is also co-owner of Major League Baseball’s Los Angeles Dodgers and a principal partner in Chelsea FC, adds another crown jewel to his sports empire. Jeanie Buss, who has served as the Lakers’ controlling owner and Governor since 2013, will retain her role even after the sale is finalized—an important condition of the agreement that ensures some continuity in the front office amid sweeping change at the ownership level.

The Buss family’s journey with the Lakers began in 1979 when Dr. Jerry Buss purchased the team for $67.5 million as part of a larger real estate deal. Over the next four decades, the family oversaw one of the most dominant dynasties in sports, with the Lakers winning 11 NBA championships under their stewardship. From the “Showtime” era of Magic Johnson and Kareem Abdul-Jabbar to the dominance of Kobe Bryant and Shaquille O’Neal, to the more recent title run with LeBron James and Anthony Davis in 2020, the Lakers have been synonymous with excellence, drama, and global appeal.

Now, 46 years later, the family has cashed out in an unprecedented fashion. The $10 billion price tag not only reflects the team’s historic success on the court but also its massive global brand value, extensive media rights, sponsorship deals, and the real estate attached to the franchise, including a share in Crypto.com Arena.

Mark Walter’s acquisition immediately sends shockwaves through the NBA and beyond. A respected financier and a low-profile but highly influential figure in the sports world, Walter brings with him a track record of investment success and championship pedigree. Under his part-ownership, the Dodgers have become one of the most consistent teams in baseball, making 12 consecutive postseason appearances and winning the World Series in 2020. His role in Chelsea FC’s front office has already helped facilitate a new era of spending and ambition for the Premier League club.

For the Lakers, the sale signals both the end of an era and the start of a new chapter. The Buss family, long seen as caretakers of the franchise’s soul and legacy, are now stepping aside from majority control. Yet the continuity provided by Jeanie Buss remaining in her executive role offers a level of reassurance to fans who might otherwise be nervous about such a monumental change.

The implications of the sale will be felt across the league. NBA franchise valuations have exploded over the past decade, fueled by rising media deals, international expansion, and the explosion of sports-related technology and data. Yet even by those standards, the $10 billion price tag sets a new benchmark. It surpasses recent team sales in other leagues, including the $6.05 billion sale of the Washington Commanders in the NFL and the $4 billion deal for the Phoenix Suns in the NBA. No franchise—NBA, NFL, MLB, or otherwise—has ever commanded a number of this magnitude.

Several key questions now loom large over the franchise’s future. What will Mark Walter’s vision for the Lakers entail? Will he bring in new executives or change the team’s front office structure? How aggressive will the Lakers be in player acquisitions and free agency under new ownership? Walter has been known to take an analytical and methodical approach to management, empowering trusted personnel while maintaining overall strategic control. That philosophy has helped build a consistent winner in the Dodgers. Could the same formula work in basketball?

There’s also the issue of how the NBA will respond to this record-breaking deal. Commissioner Adam Silver has consistently encouraged responsible and progressive ownership, particularly for a marquee franchise like the Lakers. The league will undoubtedly scrutinize and approve the transaction with care, though Walter’s experience in sports ownership and strong financial background will likely ensure a smooth path forward.

While some longtime fans may view the sale with mixed emotions—especially those with deep admiration for the Buss family’s legacy—there’s also excitement about what fresh leadership could mean. After several up-and-down seasons since winning the 2020 NBA title, the Lakers have struggled with consistency, roster construction, and injuries. With LeBron James nearing the twilight of his career and Anthony Davis carrying the mantle of franchise cornerstone, the team faces a pivotal few years in shaping its next era.

Walter’s arrival could offer a much-needed jolt. With immense resources and a reputation for building modern, data-driven operations, he may steer the Lakers into a new phase of innovation and success. Already, whispers around the league suggest that Walter could invest heavily in analytics, player development, and international scouting—all areas where the Lakers have been criticized for lagging behind other elite franchises in recent years.

The symbolic nature of this sale also cannot be understated. The Lakers have always stood for something bigger than basketball—they represent Hollywood glitz, championship tradition, and global reach. With a brand value that rivals the New York Yankees and Dallas Cowboys, the Lakers are both a business and a cultural icon. For Walter, owning the Lakers isn’t just about titles—it’s about legacy.

And so, with this earth-shaking sale, a new era begins in Los Angeles. The Buss family walks away with billions and their place in basketball history secured. Mark Walter steps in with fresh ambition and proven success. Jeanie Buss remains, offering a bridge from the past into the future. And the Lakers—beloved, criticized, watched around the world—prepare for their next act, powered by the largest sale in sports history.

The question now is simple: what will the Los Angeles Lakers become under Mark Walter? If history is any indication, we’re in for a compelling ride.