Jeanie Buss stays on as Lakers governor - what this means for the $10B sale

The Buss family’s historic $10 billion sale of a 66% Lakers stake marks a new era with Mark Walter as majority owner, yet Jeanie Buss’s continued leadership promises stability and continuity for the franchise’s future.

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The Los Angeles Lakers are undergoing a historic ownership transition as the Buss family agrees to sell majority control to Mark Walter for a record-breaking franchise valuation of approximately $10 billion, the highest ever in NBA history.

Despite the sale, Jeanie Buss will remain the Lakers' governor and continue to run the team for at least several years, ensuring continuity in leadership. The Buss family has owned the Lakers since 1979, when Jerry Buss purchased the franchise for $67.5 million, ushering in an era of success highlighted by 10 NBA championships.

Franchise legend Magic Johnson, a business partner of Walter and close to Jeanie Buss, publicly endorsed the deal, stating Lakers fans should be "ecstatic" and calling Walter "the best choice and will be the best caretaker of the Laker brand." This endorsement underscores confidence in the new ownership's commitment to preserving the Lakers' legacy.

The deal marks a significant moment in sports business, reflecting the soaring valuations of NBA franchises and the Lakers' status as one of the league's most iconic teams. While Mark Walter acquires a 66% stake, Jeanie Buss's continued governance signals stability amid change.

Key quotes and stats:
"Mark Walter is the best choice and will be the best caretaker of the Laker brand," said Magic Johnson.
Franchise valuation: Approximately $10 billion, the highest ever for an NBA team.
Ownership history: Buss family since 1979, purchased for $67.5 million.

This transition blends historic legacy with new investment, positioning the Lakers for continued prominence both on and off the court.
Sources: 1
Jeanie Buss will remain the Los Angeles Lakers' governor and continue running the team for several years despite the Buss family selling majority ownership to Mark Walter in a record-breaking $10 billion deal, the highest franchise valuation ever, sources told ESPN.
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The Headline

Walter buys majority stake; Buss stays as Lakers governor

Key Facts
  • The Buss family is selling a 66% stake in the Lakers to Mark Walter, valuing the franchise at a record-breaking $10 billion, the highest ever for an NBA team.2MARCA
  • Mark Walter acquires a significant majority stake, becoming the new principal owner of the Lakers franchise.MARCA
  • Franchise legend Magic Johnson endorsed the sale, stating Lakers fans should be 'ecstatic' and calling Mark Walter the best caretaker of the Laker brand.1
  • Jeanie Buss will remain the Lakers' governor and continue to run the team for at least a number of years, according to sources familiar with the deal.1
In addition, Jeanie Buss will remain the Lakers' governor and continue to run the team for 'at least a number of years,' sources with knowledge of the deal told ESPN's Ramona Shelburne.
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However, he most striking aspect of the deal is its record-breaking $10 billion valuation, according to insider Shams Charania in a report.
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Key Stats at a Glance
Franchise valuation
$10 billion
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Background Context

Buss family’s historic Lakers ownership and success

Key Facts
  • The Lakers have been owned by the Buss family since 1979, when Jerry Buss purchased the franchise from Jack Kent Cooke in a $67.5 million transaction that included the team and the Forum.1
  • During the Buss family's ownership, the Lakers won 10 NBA Championships with superstars like Magic Johnson, Kobe Bryant, Shaquille O'Neal, Pau Gasol, and LeBron James.MARCA
Key Stats at a Glance
Year of Buss family purchase
1979
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Original purchase price
$67.5 million
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NBA Championships won
10 NBA Championships
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