Los Angeles Lakers Confirms Majority Stake Sale to Mark Walter

The Los Angeles Lakers has confirmed Mark Walter will purchase a majority stake in the NBA franchise from the Buss family, a deal that values the team at a record $10 billion.

The sale is expected to close in the third or fourth quarter of 2025, according to a joint statement on Wednesday. Jeanie Buss will remain governor of the franchise and continue to oversee all team operations on “a day-to-day basis for the foreseeable future.”

Walter, the billionaire financier who runs Guggenheim Partners, had been a minority owner of the Lakers since 2021, when he purchased a ...