In a historic move that shook the sports world, the Los Angeles Lakers have been sold in a blockbuster deal worth $10 billion, making it the most expensive sale of a sports team in U.S. history. Billionaire investor Mark Walter, already known for owning the Los Angeles Dodgers and Chelsea FC, has acquired majority control of the Lakers, according to NBA insider Shams Charania.
While Walter now controls the team, Jeanie Buss will remain in her role as franchise governor and will continue to represent the Lakers at the NBA’s Board of Governors.
Jerry Buss: From Chemistry Professor to Real Estate Tycoon
Before he became a sports icon, Dr. Jerry Buss earned a Ph.D. in physical chemistry from USC at age 24 and briefly worked in academia. But he soon realized that teaching wasn’t going to make him rich. As he once joked, he got into real estate because his professor’s salary couldn’t even cover a down payment on a house.
Teaming up with long-time business partner Frank Mariani, Buss co-founded Mariani-Buss Associates, a company focused on buying undervalued apartment buildings across Los Angeles. They looked for properties in up-and-coming areas like Santa Monica and West L.A., often using leverage to finance their purchases. Buss was known for reinvesting profits, managing debt wisely, and building wealth through steady rental income and rising property values.
By the late 1970s, the duo had accumulated a massive portfolio, reportedly owning more than 700 income-generating properties across Southern California. That success laid the financial foundation for Buss’s biggest move yet: buying a professional basketball team.
The Lakers, The Forum, and the Birth of Showtime
In 1979, Jerry Buss took a leap that would define his legacy. He bought the Los Angeles Lakers, along with the L.A. Kings (hockey), the Forum arena, and additional real estate, all for $67.5 million—a record-setting sports franchise deal at the time. Adjusted for inflation, that would be about $213 million today.
The gamble paid off almost immediately. The Lakers had rising stars like Magic Johnson and Kareem Abdul-Jabbar, and under Buss’s leadership, the franchise transformed into a global phenomenon. Buss introduced a more glamorous, entertainment-driven atmosphere at games, creating the legendary “Showtime” Lakers. The team dominated the ’80s, filled courtside seats with Hollywood celebrities, and brought home championships. During Jerry’s ownership, the Lakers won 10 NBA titles and became one of the most beloved and successful teams in sports history.
A Family Legacy in Sports
When Jerry Buss passed away in 2013, the Lakers were valued between $900 million and $1 billion. He held a 66% ownership stake, while the remaining 34% belonged to billionaire developer Ed Roski (8%) and AEG founder Phil Anschutz (26%).
Buss’s 66% was passed down equally to his six children—each receiving an 11% stake through a family trust. Jeanie Buss was named the primary family representative and took over as team governor. Though all six siblings initially shared control, Jeanie eventually became the team’s clear leader after a failed power grab by her brother, Johnny Buss, around 2017. Since then, Jeanie has led the team through major milestones, including the 2020 NBA championship.
Breaking Down the $10 Billion Deal
Fast forward to 2025, and the Buss family has agreed to sell most of their Lakers stake, triggering the biggest team sale in American sports history.
Here’s how the numbers reportedly break down:
- In 2021, Mark Walter paid $1.35 billion for a 27% stake, valuing the Lakers at $4.8 billion at the time.
- In 2025, he paid $6.15 billion to acquire an additional 48%, pushing his total ownership to 75%, and valuing the team at $10 billion.
- The Buss family retained 18%, while a group of other investors continues to hold 7%.
That means each of the six Buss siblings just received a $1.025 billion cash payout from the sale—and they each still own 3% stakes, now worth around $300 million apiece on paper.
Mark Walter’s Expanding Sports Empire
Already known for owning the Los Angeles Dodgers and Chelsea FC, Mark Walter is no stranger to elite sports ownership. With the addition of the Lakers, he now controls one of the most prestigious brands in the NBA and further solidifies his position as a leading figure in global sports.
This record-breaking deal not only underscores the massive financial growth of sports franchises in recent decades, but also highlights how visionary ownership—starting with Jerry Buss—turned the Lakers into a billion-dollar powerhouse.
