The NBA has officially approved the sale of the majority of shares of the Los Angeles Lakers, marking one of the most historic transitions in American sports. All franchises voted unanimously in favor of transferring control to Mark Walter, CEO of TWG Global. Thus, the legendary Buss family steps down from leadership of the club after nearly half a century, leaving behind a legacy of 11 championship titles during this period.
Five of those titles came during the Magic Johnson era, three under the dominance of Shaquille O’Neal and Kobe Bryant, two more with Kobe and Pau Gasol, and the most recent one with LeBron James as the team’s leading star.
NBA Commissioner Adam Silver welcomed the change, expressing full confidence in the new owner:
“Mark Walter has a long history within our leagues, having been a partner of the Lakers and the principal owner of the Los Angeles Sparks for over a decade. I am confident that he will be a dedicated leader and a tremendous asset to the league.”
Silver also extended his gratitude to the Buss family:
“I want to thank Jeanie Buss and the entire Buss family for 46 years of transformative leadership.”
However, Jeanie Buss will continue as the club’s governor for at least the next five years, maintaining the family’s historic connection with one of the biggest sports organizations in the United States.
The exact sale price has not yet been made public, but reports suggest it is around $10 billion, and according to The Athletic, the valuation could reach as high as $12 billion. This makes the deal the largest in American sports history, surpassing all previous records.
With this sale, the Lakers enter a new era — one filled with great ambition and even higher expectations.
