When Dr. Jerry Buss bought the Los Angeles Lakers, he immediately turned them into not only the best franchise in the NBA, but one of the best in all of sports.
The Lakers have won 11 championships under the Buss family’s watch and after Jerry passed away in 2013, his daughter Jeanie eventually took over as Governor and has been running the organization ever since.
It appears that is about to change though as according to Shams Charania of ESPN, the Buss family is selling a majority ownership stake to CEO and chairman of TWG Global and Los Angeles Dodgers owner Mark Walter:
BREAKING: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN. Jeanie Buss will continue to serve in her role as Governor after the sale. pic.twitter.com/1Da6LDD7TJ
— Shams Charania (@ShamsCharania) June 18, 2025
Jerry Buss bought the Lakers from Jack Kent Cooke in 1979 for $67.5 million, and the franchise passed to his children when he passed away in 2013. Now the iconic, 17-time championship is entering agreement to sell majority interest. https://t.co/xZfgJNlN30
— Shams Charania (@ShamsCharania) June 18, 2025
Walter has been a minority stakeholder in the Lakers since 2021 and has interests in multiple professional sports organizations, including the LA Dodgers, WNBA's Los Angeles Sparks, the Billie Jean Cup, Cadillac Formula 1 team and the Professional Women's Hockey League. https://t.co/mgZkxcdXnp
— Shams Charania (@ShamsCharania) June 18, 2025
Walter and his partner with the Dodgers Todd Boehly acquired a minority stake in the Lakers in 2021 and eventually gained first right to refusal on any future sales regarding the franchise.
The sale is for a record $10 billion valuation and the Lakers will be under new ownership moving forward and as Charania reported, Jeanie will maintain her position as Governor.
The way Walter has run the Dodgers in recent years, money shouldn’t be an issue for the Lakers moving forward as his group is committed to winning at all costs.
Austin Reaves wants to stay with Lakers for whole career
While Jeanie Buss and her family are no longer owners of the Lakers, one person who wants to stay with the organization for his entire career is Austin Reaves.
“I want to play my whole career in LA. I love it there. I love the fans. Love the weather, love the golf. And obviously the Lakers is the best organization in basketball. (on trade rumors) I don’t pay attention to it. I keep my head down work, and I feel like that’s one of the reasons I’m where I’m at.”
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