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The Los Angeles Lakers, one of the most storied franchises in team sports, entered a new chapter on Thursday when the NBA Board of Governors voted unanimously to approve Mark Walter’s purchase of the team’s majority interest. The transaction, expected to close imminently, valued the franchise at nearly $10 billion — the largest price ever paid for control of a sports team in North America; the previous record was set by Bill Chisholm’s $6.1 billion purchase of the Boston Celtics in July. “Mark Walter has a long association with our leagues, having served as a minority owner of the Lakers and as the principal owner of the WNBA’s Sparks for more than a decade,” said NBA Commissioner Adam Silver in a statement. “As Mark assumes his role as majority owner of the Lakers, I have no doubt that he will be a committed steward of the team and a great addition to our league given his many successful ventures in business and sports.” “I also want to thank and congratulate Jeanie Buss and the Buss family for 46 years of transformational leadership and service. While this historic transaction transfers the Buss family’s majority interest in the Lakers, I am thrilled that Jeanie will remain the team’s Governor and an active and engaged member of our league.” The NBA Board of Governors has unanimously approved the sale of the majority interest in the Los Angeles Lakers to Mark Walter. pic.twitter.com/6YKmyvHDx5— NBA Communications (@NBAPR) October 30, 2025 Read More: Mavericks’ Cooper Flagg Makes NBA History in Win Over Raptors Walter, who already owns other major sports assets, including the MLB’s Los Angeles Dodgers and WNBA’s Los Angeles Sparks, previously presented his bid to the NBA’s financial review structure before the unanimous Board vote, clearing the league’s governance checks that precede any ownership transfer. The agreement, however, preserves continuity inside the organization as the Buss family will remain stakeholders and Jeanie Buss will continue as the club’s Governor for at least the next five years following the closing. Jeanie Buss (L) and Mark Walter attend a basketball game between the Los Angeles Lakers and the Golden State Warriors at Crypto.com Arena in Los Angeles, California. Read More: Steph Curry Sends Message Amid Jimmy Butler’s First Season With Warriors The Buss family’s association with the Lakers dates back to Jerry Buss’s purchase of the team in 1979, a stewardship that transformed the franchise into one of the biggest brands in professional sports across the globe. During the Buss era, the Lakers captured 10 NBA titles and became a defining franchise across multiple eras — from the “Showtime” Lakers with Kareem Abdul-Jabbar and Magic Johnson through the Shaquille O’Neal-Kobe Bryant and LeBron James eras. The transaction closes a long chapter of family majority ownership and opens a new, investor‑led era for one of the NBA’s most iconic franchises.
