The NBA Board of Governors has officially approved the historic sale of the Los Angeles Lakers to billionaire investor Mark Walter, the league confirmed on Thursday. The deal, valued at an estimated $10 billion, marks a monumental shift in one of the most iconic franchises in professional sports.
According to the NBA’s official statement, the transaction; which transfers majority ownership from Jeanie Buss to Mark Walter; will be finalized “shortly,” completing a transition that began earlier this summer.
“As Mark assumes his role as majority owner of the Lakers, I have no doubt that he will be a committed steward of the team and a great addition to our league given his many successful ventures in business and sports,” said NBA Commissioner Adam Silver.
A New Era in Los Angeles
Jeanie Buss, who has overseen the franchise since 2013 following the passing of her father Dr. Jerry Buss, will remain as the team’s governor for at least five years as part of the agreement. Her continued involvement ensures a smooth handover and preserves a link to the Buss family’s legacy; a legacy that has defined Lakers basketball for over four decades.
“While this historic transaction transfers the Buss family’s majority interest in the Lakers, I am thrilled that Jeanie will remain the team’s governor and an active and engaged member of our league,” Silver added.
The Buss family first acquired the Lakers in 1979 under Dr. Jerry Buss, whose vision helped transform the NBA into a global entertainment powerhouse. Under his leadership and later Jeanie’s; the Lakers captured 11 NBA championships, featuring dynasties led by Magic Johnson, Shaquille O’Neal, Kobe Bryant, and LeBron James.
Mark Walter’s Expanding Sports Empire
Walter, the CEO of TWG Global, brings vast experience in sports ownership. His group already owns stakes in several major franchises, including the Los Angeles Dodgers, Los Angeles Sparks, Chelsea FC of the English Premier League, and the Cadillac Formula One Team.
His acquisition of the Lakers solidifies his presence as one of the most influential figures in global sports business. Sources close to the deal describe Walter’s vision as a “modernization of the Lakers brand,” focusing on digital expansion, player development, and long-term franchise sustainability.
LeBron James: Player-Coach and Athletic Trainer
In a groundbreaking move, LeBron James is confirmed to take on a dual role as player-coach and athletic trainer; an unprecedented appointment in the modern NBA.
At 40, LeBron enters a new phase of his career, blending on-court leadership with mentorship and player performance oversight. The four-time NBA champion will assist in developing the next generation of Lakers talent while continuing to compete on the floor.
“It’s a new challenge, but I’ve always been about growth and helping the next wave of players rise,” LeBron said in a statement. “The Lakers are family, and I’m honored to keep building that legacy in a new way.”
End of an Era, Dawn of a New Legacy
The sale concludes an extraordinary 46-year reign by the Buss family; one that turned the Lakers into not just a team, but a global brand synonymous with success, celebrity, and culture.
With Mark Walter at the helm, Jeanie Buss remaining in a guiding role, and LeBron James stepping into a historic new position, the Los Angeles Lakers are entering a new era; one that blends legacy with innovation, and tradition with transformation.
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