The Los Angeles Lakers officially changed hands in June 2025, with Mark Walter acquiring majority control of the franchise at a $10 billion valuation. The sale marked the end of the Buss family’s decades-long ownership, a dynasty that began with Jerry Buss’ purchase of the team in 1979.
ESPN’s Baxter Holmes reported that internal family tensions played a central role in the decision to sell. Jeanie Buss, who had been the Lakers’ governor since Jerry Buss’ death in 2013, spearheaded the sale, while multiple siblings faced abrupt firings and marginalization within the organization.
The family’s discord traces back years. After Jerry Buss passed, his six children inherited control via a complex trust designed to maintain ownership within the family. Conflicts emerged over leadership, with Jeanie asserting control while older siblings Jim and Johnny sought influence over basketball operations. The friction escalated in 2017 when Jeanie fired Jim and ousted longtime general manager Mitch Kupchak, prompting legal maneuvers by her brothers.
Younger siblings Jesse and Joey Buss initially supported Jeanie but grew concerned about the team’s future under her stewardship. By 2024, they explored selling a minority stake to provide cash for the older siblings while retaining the family’s controlling interest. Their proposals, however, may have accelerated Jeanie’s decision to sell a larger majority stake to Walter, sources told ESPN.
The final vote on June 18, 2025, was unanimous, with the family agreeing to sell roughly 50% of their ownership while retaining the minimum 15% required for Jeanie to remain governor. The transaction included substantial bonuses for key executives close to Jeanie, raising questions about the negotiation process.
Financially, the deal rewarded each sibling with hundreds of millions, yet for many, the sale carried a deeper emotional toll. Jesse and Joey, who had long hoped to run basketball operations, were ultimately removed from the organization in November 2025, leaving them to focus on their new venture, Buss Sports Capital.
On the court, the 2025–26 Lakers continue to navigate the post-sale era. Luka Doncic leads the team, averaging 33.5 points, 7.7 rebounds, and 8.7 assists per game, while Austin Reaves contributes 26.6 points per contest. LeBron James, now 41, remains productive with 22.5 points and seven assists per game.
