Lakers Sale To Mark Walter Will Close This Year

New incoming Lakers majority owner Mark Walter will assume control of the franchise during the third or fourth quarter of 2025, Tim Reynolds of The Associated Press reports.

An ownership group led by Walter is purchasing a significant portion of the Buss family’s 66% majority stake in the Lakers at a $10 billion valuation. Walter was already a minority shareholder in the franchise, having purchased a 27% stake in 2021 alongside Todd Boehly.

Current Los Angeles governor Jeanie Buss, who helped steer the franchise to a title in that role five years ago, will stay in that role – and will continue to oversee team day-to-day team operations – “for the foreseeable future,” the Lakers and Walter confirmed in a press statement addressing the sale.

“From the day our father [Dr. Jerry Buss] purchased the Lakers, we have been determined to deliver what the City of Los Angeles deserves and demands: a team that is committed to winning — relentlessly — and to doing so with passion and with style,” Jeanie Buss said. “I have gotten to know Mark very well over time and been delighted to learn how he shares those same values. For the last four years, Mark has been an excellent partner to us, and we are thrilled to keep working with him to continue the Lakers’ extraordinary legacy.”

Under the Buss family, the Lakers have won 11 championships.

The Chicago-based Walter also has stakes in the Los Angeles Dodgers, Los Angeles Sparks, and other sports holdings.

“Since Dr. Jerry Buss first purchased the team in 1979, they have truly set the standard for basketball in one era after another, which is why you can find people anywhere in the world wearing Lakers shirts and jerseys,” Walter said.