BREAKING: Buss Family Agrees to Sell Majority Ownership of Los Angeles Lakers to TWG Global CEO Mark Walter in Landmark Deal
In a stunning and historic development, the Buss family, long-time owners and stewards of the Los Angeles Lakers, are entering an agreement to sell majority ownership of the iconic NBA franchise to Mark Walter, the CEO and chairman of TWG Global. The blockbuster deal, which is reportedly valued in the billions, marks the end of one of the most influential ownership eras in professional sports history.
The Buss family, who have controlled the Lakers since Dr. Jerry Buss purchased the team in 1979, have overseen one of the most storied legacies in basketball. Under their leadership, the Lakers have secured 11 NBA championships, produced countless Hall of Fame players, and built a global brand synonymous with excellence, celebrity, and championship pedigree.
Mark Walter, who also serves as co-owner of the Los Angeles Dodgers and is a principal figure in several major sports investments, now takes the reins of one of the NBA’s crown jewels. Walter’s acquisition is expected to bring a fresh wave of innovation, global expansion, and financial investment to the Lakers organization while maintaining the franchise’s deep ties to its championship roots and fanbase.
In a joint statement, the Buss family expressed their gratitude to Lakers fans and their confidence in Walter’s vision. “This decision was not made lightly,” the family said. “The Lakers mean everything to our family and to the city of Los Angeles. We believe Mark Walter shares our passion for winning and will uphold the legacy our father built.”
Walter, known for his success in sports ownership and his commitment to building sustainable, community-focused teams, conveyed his excitement about the opportunity. “The Lakers are more than a basketball team—they’re a global institution. I am honored to lead this next chapter and will work tirelessly to uphold the tradition of excellence that defines the Lakers.”
Reactions across the NBA have been swift and emotional. Players, former legends, and fans have flooded social media to express shock, nostalgia, and cautious optimism about the future. Many are hopeful that Walter’s proven track record with the Dodgers, where he helped usher in a championship, will carry over to the Lakers.
This monumental sale signals a new era for the Los Angeles Lakers—a franchise now poised to evolve under fresh leadership while carrying forward the weight of its golden legacy.
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