The National Basketball Association approved the $10 billion sale of the Los Angeles Lakers from the Buss family to Guggenheim Partners CEO and Los Angeles Dodgers owner Mark Walter, marking the largest acquisition in the history of sports.
Key Takeaways
- The NBA’s board of governors unanimously approved the deal, which will provide majority interest of the Lakers to Walter.
- The Buss family, which purchased the Lakers for $67.5 million in 1979, will keep a stake in the team, according to the NBA, which noted Jeanie Buss will stay as the team’s governor for at least five years after the deal is closed.
- Walter will soon own the Lakers and Dodgers, the latter of which he purchased for $2.15 billion in 2012.
- Walter has been a Lakers stakeholder for four years.
Crucial Quote
“Over the past decade, I have come to know Mark well—first as a businessman, then as a friend and now as a colleague,” Buss said in a statement. “He has demonstrated time and time again his commitment to bringing championships to Los Angeles, and, on behalf of Lakers fans everywhere, I am beyond excited about what our future has in store.”
Forbes Valuation
We estimate Walter’s net worth at $7.3 billion. The billionaire investor has a controlling stake in the Los Angeles Sparks in addition to the Dodgers. He also has equity in English Premier League soccer team Chelsea FC.
Key Background
The Lakers placed No. 2 on Forbes’ 2025 list of most valuable NBA teams, boasting a $10 billion valuation behind the No. 1 Golden State Warriors ($11 billion). The Lakers are among the NBA’s winningest franchises, reaching the NBA Finals 32 times and securing the championship 17 times in its history. That success, the team’s storied history of boasting superstar talent and its massive brand visibility translated into the historic sale figure, which is significantly larger than the next-biggest acquisitions in sports history. The Boston Celtics franchise was purchased for $6.1 billion earlier this year while the Washington Commanders were acquired for $6.05 billion in 2023.
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This story was originally published on forbes.com and all figures are in USD.
