Los Angeles Lakers to be offered for record-breaking $10 billion, present proprietor Jeanie Buss to stay governor

The Buss household has agreed to promote the controlling stake of the Los Angeles Lakers to TWG International CEO Mark Walter, doing so with a franchise valuation of $10 billion (roughly Rs 86,000 crore) — the best ever for knowledgeable sports activities franchise, an individual with information of the settlement mentioned Wednesday.

As a part of the deal, Jeanie Buss — whose household has had management of the Lakers since her father purchased the workforce in 1979 — intends to stay as workforce governor, mentioned the individual, who spoke to The Related Press on situation of anonymity as a result of neither aspect instantly introduced particulars.

It’s not clear how rather more of the Lakers that Walter is buying. He was a part of a bunch that purchased 27% of the Lakers in 2021. Jeanie Buss will nonetheless personal a minimum of 15% of the Lakers as soon as this transaction is accomplished; by NBA rule, a governor should have a minimum of that a lot of an possession stake.

Walter and TWG International already had the controlling curiosity within the Los Angeles Dodgers, Premier League membership Chelsea, the Skilled Girls’s Hockey League, and — by TWG Motorsports — owns a number of auto racing groups together with Cadillac Components 1.

Dodgers supervisor Dave Roberts mentioned information of the sale to Walter marks “a really thrilling day for the Lakers, for town of Los Angeles.”

“He’s very aggressive and he’s going to do the whole lot he can to supply a championship-caliber workforce each single yr and ensure town feels proud in regards to the Lakers and the legacy that they’ve already constructed with the Buss household,” Roberts mentioned.

ESPN first reported the settlement.

“Mark Walter is your best option and would be the finest caretaker of the Laker model,” Lakers legend Magic Johnson, a enterprise accomplice of Walter’s and somebody extraordinarily near Jeanie Buss, posted on social media. “The proof is within the pudding on what he’s been capable of accomplish with the LA Dodgers. Mark has been nothing wanting a winner notching 2 World Collection and 11 NL West divisional titles within the final 12 years!”

Johnson mentioned he’s sure Jeanie Buss made the deal solely after being satisfied that Walter will do proper by the Lakers.

“Laker followers needs to be (ecstatic),” Johnson mentioned. “Just a few issues I can inform you about Mark — he’s pushed by profitable, excellence, and doing the whole lot the precise means. AND he’ll put within the assets wanted to win! I can perceive why Jeanie offered the workforce to Mark Walter as a result of they’re simply alike — they’re aggressive folks, have massive hearts, love to provide again, and each desire to be behind the scenes. This makes all of the sense on the planet.”

I simply talked to my sister Jeanie Buss to inform her congratulations, and that I’m so blissful for her and household. I informed her that her dad Dr. Buss can be very happy with her for getting $10B for the Lakers, the most important sports activities franchise sale in historical past!

— Earvin Magic Johnson (@MagicJohnson) June 18, 2025

Walter is very non-public in shunning the highlight. He’s CEO of the monetary companies agency Guggenheim Companions, which is estimated to have greater than $325 billion in belongings. Johnson is amongst Guggenheim’s traders.

The settlement for the sale of the Lakers comes about three months after Invoice Chisholm agreed to purchase the Boston Celtics with an preliminary valuation of $6.1 billion — which was going to be a file, topping the earlier mark of $6.05 billion sale for the NFL’s Washington Commanders. The Celtics’ sale will not be but finalized, pending last approval by the NBA’s board of governors. That board is scheduled to fulfill in Las Vegas subsequent month.

And now, the Lakers are offered with a valuation of $10 billion — not only a file, however a complete smashing of the earlier mark.

The Lakers have been within the management of the Buss household for 46 years, the longest of any present NBA franchise. Herb Simon purchased the Indiana Pacers — presently within the NBA Finals — in 1983, the second-longest present possession of an NBA membership.

Jerry Buss purchased the Lakers for $67.5 million and made it to the NBA Finals 16 instances out of his 34 seasons main the membership, profitable 10 championships in that span. When he died in 2013, possession of the Lakers went right into a belief managed by Buss’ six youngsters — who all labored for the Lakers in numerous capacities for a number of years.

Finally, the household started clashing over management. An settlement was struck in 2017 calling for Jeanie Buss to function controlling proprietor, ending a battle that included her going to court docket after her brothers Jim and Johnny Buss known as for a board assembly that she interpreted as a problem to her energy — shortly after she eliminated Jim Buss because the Lakers’ government vice chairman of basketball operations.