Mark Walter, a billionaire investor and longtime stakeholder in professional sports, is set to become the new controlling owner of the Los Angeles Lakers by late 2025.
According to Tim Reynolds of The Associated Press, Walter will officially take over majority control of the franchise during the third or fourth quarter of the year, marking a historic shift in the Lakers’ ownership structure.
Walter, who currently holds a minority interest in the team, is leading an ownership group that will acquire a significant portion of the Buss family’s 66% controlling stake.
The transaction, which values the iconic franchise at approximately $10 billion, will make Walter the Lakers’ new majority owner.
He previously purchased a 27% stake in the team in 2021 alongside business partner Todd Boehly, and the latest deal marks a substantial expansion of his influence within the organization.
Despite the upcoming change in majority control, Jeanie Buss, the current governor of the team and daughter of the late Dr. Jerry Buss, will continue in her current role.
According to a joint statement issued by the Lakers and Walter, she will remain responsible for the franchise’s day-to-day operations “for the foreseeable future.”
Jeanie Buss addressed the transition in a heartfelt statement, reaffirming her family’s commitment to the franchise and praising Walter’s shared dedication to the Lakers’ championship culture:
“From the day our father [Dr. Jerry Buss] purchased the Lakers, we have been determined to deliver what the City of Los Angeles deserves and demands: a team that is committed to winning – relentlessly – and to doing so with passion and with style,” she said.
“I have gotten to know Mark very well over time and been delighted to learn how he shares those same values. For the last four years, Mark has been an excellent partner to us, and we are thrilled to keep working with him to continue the Lakers’ extraordinary legacy.”
Walter, who is based in Chicago and also holds stakes in the Los Angeles Dodgers, the WNBA’s Sparks, and other sports enterprises, emphasized the global reach and historic significance of the Lakers in his remarks:
“Since Dr. Jerry Buss first purchased the team in 1979, they have truly set the standard for basketball in one era after another, which is why you can find people anywhere in the world wearing Lakers shirts and jerseys,” he said.
Under the Buss family’s leadership, the Lakers have captured 11 NBA championships and helped shape the identity of the league itself.
As the organization prepares for its next chapter under Walter’s majority ownership, both continuity and ambition remain central to its future.
Lakers Sale To Mark Walter Will Close This Year https://t.co/9XYtHcxoFS pic.twitter.com/IwVAeJQNu4
— Hoops Rumors (@HoopsRumors) June 25, 2025
