For generations, the name Buss has been synonymous with the purple and gold. But in a move that marks a seismic shift in NBA history, the Buss family has sold majority ownership of the Los Angeles Lakers to billionaire businessman and Guggenheim Partners CEO, Mark Walter.
The deal, which sources value at over $7.8 billion, not only reshapes the power dynamics within one of the league’s most iconic franchises but also signals the end of a remarkable chapter defined by family legacy, championships, and Hollywood flair.
When Dr. Jerry Buss purchased the Lakers in 1979, he didn’t just buy a basketball team he built a cultural institution. Under his visionary leadership, the Lakers won 10 NBA championships, turning the franchise into a global brand and transforming the NBA into entertainment royalty.
Following his death in 2013, ownership passed to his six children, led by Jeanie Buss, who became the team’s controlling owner and the first woman in NBA history to lead a franchise to a championship (2020). But the weight of ownership complicated by succession dynamics, tax burdens, and mounting valuation proved difficult to sustain long-term.
Mark Walter is no stranger to the world of high-stakes sports ownership. He is already the principal owner of the Los Angeles Dodgers, a part-owner of the Chelsea Football Club, and a well-known figure in sports, finance, and philanthropy.
His acquisition of the Lakers isn’t just about prestige, it’s a calculated investment in one of the most valuable franchises in the world. Walter has promised to preserve the team’s historic identity while investing in its next era of success, from player development and technology to global fan engagement.
“The Lakers are more than a team they’re a cultural icon,” Walter said in a statement. “It’s an honor to steward such a rich legacy into the future.”
This is more than a change in who signs the checks. The sale of the Lakers could reshape the balance of power in the Western Conference, influence future free agent signings, and usher in a new era of tech-driven, brand-savvy sports ownership across the NBA.
It also raises existential questions about family-owned sports teams in an era dominated by hedge funds and billionaire investors. The Lakers were one of the few remaining family-run franchises in American professional sports. With this sale, a unique model of ownership fades further into history.
Still, for many fans, the soul of the Lakers lives on in banners, memories, and legends Magic, Kobe, Shaq, and LeBron and in the passionate fanbase that spans the globe.
The Buss name will forever be etched into Lakers, engraved on trophies and stitched into the fabric of NBA history. But the future now lies in the hands of Mark Walter a man with big pockets, big plans, and an even bigger spotlight.
For the first time in over four decades, the Lakers belong to someone outside the Buss bloodline. But if the spirit of Showtime, championships, and “Laker for life” pride endures, perhaps the torch has been passed not dropped.
