The Los Angeles Lakers, one of the most iconic and most valuable franchises in the NBA, is going to have new majority ownership.
The Buss family, led by Jeanie Buss, has reached an agreement to sell a majority ownership stake to businessman Mark Walter, the CEO and founder of holding company TWG Global, for a $10 billion valuation, a person with knowledge of the agreement confirmed to USA TODAY Sports.
The person spoke under the condition of anonymity because they were not authorized to publicly disclose details of the agreement.
The sale breaks the record for the most expensive purchase agreement of a U.S. pro sports franchise in history.
The person also confirmed that Jeanie Buss, 63, will remain in her position as the governor of the Lakers in the short-term, a setup that accounts for estate planning for the family. This arrangement is similar to the one longtime Celtics managing partner Wyc Grousbeck arranged in the March 2025 sale of that franchise to William Chisholm.
