LA Lakers owners agree to sell majority stake in team at $10B valuation, fans call it 'crazy' deal

LOS ANGELES, CALIFORNIA: Shockwaves were sent through the basketball world after it was revealed that the five-decades-long sports dynasty is ending at the Los Angeles Lakers, with the team owners agreeing to sell their controlling interest.

According to a report by ESPN’s Shams Charania, the Buss family is all set to enter an agreement to sell its majority stake to businessman Mark Walter for a staggering $10 billion.

The astonishing $10 billion deal marks the largest sale ever of a US pro sports franchise, as per the NY Post.

Jeanie Buss will assume her role as Lakers governor

As a part of the deal, Jeanie Buss, the current president and controlling owner of the NBA's Los Angeles Lakers, will still assume her role as Lakers governor, with the Buss family keeping a minority share of just over 15% for a period of time.

Jeanie took over the role in 2013 after the death of her father, Jerry Buss, who passed on the iconic team to his six children. She has had a highly successful tenure ever since and became the first woman to ever lead an NBA championship team.

Jerry bought the Lakers in 1979 from Jack Kent Cooke in a $67.5 million deal that also included the Los Angeles Kings and the Los Angeles Forum.

Since then, the Purple and Gold have risen to transform into one of the world's most recognizable sports franchises. The Lakers have a 2236-1467 record and have won 11 NBA Titles with teams that have featured some of the league's most iconic players like Kareem Abdul-Jabbar, Magic Johnson, Kobe Bryant, Shaquille O'Neal, and LeBron James.

Magic Johnson approves Lakers' trade deal

After the news of the Lakers' trade broke the internet, NBA legend Magic Johnson took to X to hail Jeanie’s decision.

“Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the @Lakers legacy and tradition of winning, Mark Walter, my business partner and friend!” the former point guard, who spent his entire career with the Lakers, wrote on X.

“Mark Walter is the best choice and will be the best caretaker of the Laker brand. The proof is in the pudding on what he’s been able to accomplish with the LA Dodgers.”

“Mark has been nothing short of a winner notching 2 World Series and 11 NL West divisional titles in the last 12 years!” his tweet continued.

Walter has owned a stake in the Lakers since 2021, when he was given the right of first refusal on the majority share of the team.

Walter, who is also the primary owner of the Dodgers, and is the CEO of TWG Global, also has interests in several other professional sports teams and enterprises — including the Los Angeles Sparks, Chelsea FC, the Billie Jean King Cup, the Cadillac Formula 1 team and the Professional Women’s Hockey League.

The deal comes after two other highly valued NBA franchises recently sold: the Mavericks and Celtics.

Mark Cuban, the Mavs' longtime owner, sold his primary investment in the team to the Adelson family in late 2023 for $3.5 billion, but he retained roughly 27 percent ownership.

A year later, Wyc Grousbeck sold William Chisholm his majority ownership of the Celtics in March 2025 for $6.1 billion.

NBA fans shocked over Lakers’ trade deal

The Buss family’s decision to sell their iconic Lakers in a $10 billion trade deal has left many NBA fans shocked, with one saying, “Crazy how the lakers got sold before lebron retired like they really said we’d rather cash out than rebuild.”

“Mark Walters didn’t just buy the Lakers… he bought the expectation of greatness. Let’s go ALL IN,” another user praised Walters’ decision.

“First Celtics? Now Lakers sell? Da fck?” one more user said.

“Wow, crazy that a sale would go through after their inexplicable acquisition of Luka Doncic,” another wrote.

A person commented, “Sheesh, that's a staggering amount of cheddar! Sign me up fam.”

“Lakers just cashed out like royalty, $10B for the crown jewels of the NBA,” a user wrote, while another one commented, “Lakers really went from showtime to sold time... jerry buss prolly flipping in his grave rn.”

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