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Professional basketball

Lakers Sold to TWG Global CEO Mark Walter in Record-Shattering $10 Billion Deal

Strategic Insights

— 2 min read

Mark Walter, CEO of TWG Global and Guggenheim Partners, has agreed to purchase the controlling stake of the Los Angeles Lakers from the Buss family in a deal valued at $10 billion - the highest ever for a professional sports franchise. As part of the agreement, Jeanie Buss will remain as team governor. The sale marks the end of the Buss family's 46-year tenure as owners of the Lakers, the longest current NBA franchise ownership.

Key Takeaways:

  • The sale of the Lakers is valued at $10 billion, a record-breaking figure for a professional sports franchise.
  • Mark Walter, CEO of TWG Global and Guggenheim Partners, has acquired the controlling stake in the Lakers from the Buss family.
  • Jeanie Buss will remain as team governor as part of the agreement.
  • The Buss family has owned the Lakers for 46 years, the longest current NBA franchise ownership.
  • The sale follows Walter's previous acquisition of 27% of the Lakers in 2021.
  • Magic Johnson, a business partner of Walter's and former Lakers executive, has endorsed Walter's acquisition, citing his success with the Los Angeles Dodgers.
  • Harry Chisholm agreed to buy the Boston Celtics for an initial valuation of $6.1 billion, topping the previous mark of $6.05 billion sale for the NFL's Washington Commanders.
  • Bill Buss, the previous owner of the Lakers, bought the team for $67.5 million and led the club to 10 championships over 34 seasons.
  • The Buss family began clashing over control in 2017, leading to an agreement for Jeanie Buss to serve as controlling owner.

Statistics:

  • The sale of the Lakers is valued at $10 billion.
  • The Buss family has owned the Lakers for 46 years.
  • Magic Johnson has cited Walter's success with the LA Dodgers, noting 2 World Series and 11 NL West divisional titles in the last 12 years.
  • The Lakers have been sold for a record-breaking figure, smashing the previous mark.
  • Bill Buss bought the Lakers for $67.5 million.
  • The Buss family's control of the Lakers ended after 46 years.
  • The sale follows Walter's previous acquisition of 27% of the Lakers in 2021.
  • Harry Chisholm agreed to buy the Boston Celtics for an initial valuation of $6.1 billion.

Sources:

  • A person with knowledge of the agreement, speaking to The Associated Press on condition of anonymity
  • Magic Johnson's social media post, as reported by The Associated Press
  • The Associated Press article, citing a person with knowledge of the agreement
  • AP Sports Writer John Wawrow, contributing to the story
  • The Associated Press, copyright 2025, all rights reserved

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