Jeanie Buss recently made a historic call. She plans to sell her controlling interest in the Los Angeles Lakers to Mark Walter, CEO and co-founder of investment firm Guggenheim Partners. This deal values the legendary franchise at a staggering $10 billion, setting a historic precedent in the realm of sports ownership. Buss has effectively owned the Lakers since her family bought the team in 1979 for $67.5 million. She will however retain a small ownership stake in the enterprise.
His story’s not just a name dropping fantasy. Buss can’t have picked a better caretaker for the Laker brand. With such a proud legacy, the franchise has become one of the true marquee franchises in the entire NBA. During the 2025 season, they completed an eye-popping 50-32 campaign, claiming the Western Conference’s third seed. The Lakers went all-in on their championship push in February, trading for Dallas Mavericks superstar Luka Doncic. This recent addition has made their competitive reach even stronger.
The sale comes after another major sale in the league. In October, private equity executive Bill Chisholm sold the Boston Celtics to another private equity executive for $6.1 billion. The Celtics and Lakers have long-held, multi-championship legacies. Alternate image text With their storied pasts, they’re usually considered two of the most proud and historic franchises in NBA history.
Even Magic Johnson, perhaps the most revered figure in Lakers lore, threw his support behind Buss’s decision. He stated, “Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the Lakers legacy and tradition of winning.” He further emphasized Walter’s credentials, declaring, “Mark Walter is the best choice and will be the best caretaker of the Laker brand.”
During the Buss family’s tenure, the Lakers have rejoiced in 11 NBA championships, cementing their legacy as one of the most successful franchises in all of professional sports. This change in ownership ushers in an exciting new chapter for the franchise. So with Walter’s leadership, we’re committed to continue that winning tradition.