The NBA has officially approved the sale of the Los Angeles Lakers to billionaire investor Mark Walter, finalizing one of the most high-profile ownership transitions in professional sports.
The league’s Board of Governors voted unanimously to approve Walter’s acquisition of a majority stake, marking a new chapter for the 17-time NBA champions. Jeanie Buss will remain as the team’s Governor and continue to oversee basketball and business operations.
Walter, Chairman and CEO of TWG Global, expressed his admiration for the franchise’s legacy in a statement announcing the deal. “The Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence and the relentless pursuit of greatness,” he said. “Few teams carry the legacy and global influence of the Lakers, and it’s a privilege to work alongside Jeanie Buss as we maintain that excellence and set the standard for success in this new era.”
Buss, who took control of the organization in 2017 following her father Jerry Buss’s passing, welcomed Walter as a partner who shares her vision for championship success. “He has demonstrated time and time again his commitment to bringing championships to Los Angeles,” Buss said. “On behalf of Lakers fans everywhere, I am beyond excited about what our future has in store.”
The Lakers’ sale further expands Walter’s sports portfolio, which already includes controlling interests in MLB’s Los Angeles Dodgers, the WNBA’s Los Angeles Sparks, and Premier League club Chelsea F.C. TWG Global, his holding company, also owns the Professional Women’s Hockey League and has a majority stake in the Cadillac Formula 1 Team.
According to league filings, Walter’s purchase grants him a controlling interest in the Lakers, with Buss retaining a significant minority share and her position atop the organization’s leadership. Financial terms of the deal were not disclosed.
Walter and his TWG Global Co-Chairman Thomas Tull are building a unified sports network through TWG Sports, a division of their company focused on connecting teams and leagues under one strategic umbrella.
As ownership transitions to Walter’s leadership, the Lakers continue their 2025–26 campaign with a 3–2 record, led by Luka Doncic and Austin Reaves. Doncic is averaging 46 points across two appearances, while Reaves has posted 34.2 points and 10 assists per game through five contests.
The franchise’s new majority owner is also recognized for his extensive philanthropic work. Through the Walter Family Foundation, he funds education initiatives, conservation projects, and community development programs across the United States.
