Owner Jeanie Buss of the Los Angeles Lakers and Jay Mohr prior to game one of a first round NBA basketball game between the Los Angeles Lakers and the Minnesota Timberwolves at Crypto.com Arena in Los Angeles on Saturday, April 19, 2025.
Keith Birmingham | MediaNews Group | Pasadena Star-News | Getty Images
The Buss family has agreed to sell a majority stake of the Los Angeles Lakers to businessman Mark Walter in a deal that values the team at $10 billion, according to people with knowledge of the terms.
The sale would mark a new record for NBA valuations. The Crypto.com Arena, where the Lakers play, is owned by AEG and is not included in the deal.
CNBC’s most recent Official NBA Team Valuations ranked the Lakers as third in the league in terms of value, at $7 billion.
“Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, which he has been a stakeholder since 2021,” a representative for Walter said in a statement to CNBC.
The Lakers did not immediately respond to a request for comment.
As part of the deal, Jeanie Buss will retain a minority stake in the team she has owned since her family purchased the franchise in 1979 for $67.5 million. She will also retain her governor seat.
Walter is CEO and co-founder of Guggenheim Partners and is not new to sports ownership. He is also the majority owner of MLB’s Los Angeles Dodgers, WNBA’s Sparks and Cadillac’s forthcoming Formula 1 team. He also owns the Professional Women’s Hockey League.
Former Lakers legend Earvin “Magic” Johnson, who is also a business partner of Walter’s, praised the transaction in a post on X.
“Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the Lakers legacy and tradition of winning,” Johnson said. “Mark Walter is the best choice and will be the best caretaker of the Laker brand.”
NBA valuations have skyrocketed since the league completed its most recent media rights agreement, valued at $77 billion over 11 years.
In March, the Boston Celtics sold for a then-record of $6.1 billion to private equity executive Bill Chisholm.
The Celtics and Lakers are arguably two of the most marquee franchises in the NBA.
In February, the Lakers acquired Dallas Mavericks superstar Luka Doncic to team up with LeBron James.
The Lakers finished the 2025 season as the No. 3 seed in the Western Conference with a 50-32 record.
The Lakers have won 11 NBA titles since the Buss family took over, the most of any NBA franchise during that period.
— CNBC’s Michael Ozanian contributed to this report.
Read the original article here