• Mark Walter has agreed to purchase a majority stake in the Los Angeles Lakers.
• The sale values the Lakers at $10 billion, making it the largest sale of a professional sports team.
• Jeanie Buss will remain responsible for daily team operations.
• The deal is expected to close in the third or fourth quarter of 2025.
• Walter has been a minority owner of the team since 2021.

The Buss family has confirmed the agreement to sell a majority stake in the Los Angeles Lakers to Mark Walter, CEO of TWG Global, while Jeanie Buss will continue as the governor of the team. This deal is notable, as it values the Lakers at a staggering $10 billion, which is reported to be the largest sale ever of a professional sports franchise, according to Los Angeles Times, Channel News Asia, and Reuters.

The transaction is slated to close in the third or fourth quarter of 2025, pending the typical closing conditions including approval from the NBA, as stated by team officials. Jeanie Buss expressed confidence in Walter, highlighting shared values regarding commitment to winning with passion and style, according to Los Angeles Times, Channel News Asia, and Reuters.

Mark Walter, who also holds ownership stakes in other sports franchises like the Los Angeles Dodgers and Los Angeles Sparks, has been a minority owner of the Lakers since 2021. His acquisition of a majority stake marks a significant transition for the Lakers, a team that has won 17 NBA championships and has been home to iconic players such as Magic Johnson, Kobe Bryant, and LeBron James, according to Los Angeles Times, Channel News Asia, and Reuters.

Jeanie Buss has been at the helm of the Lakers since her father's passing in 2013 and has grown the organization into one of the most recognized brands in professional sports. Walter praised the legacy the Buss family has built since the late Jerry Buss purchased the team in 1979, emphasizing the Lakers' status in basketball and sports culture globally, as noted by Los Angeles Times, Channel News Asia, and Reuters.