Mark Walter to acquire majority stake in Lakers later this year; Jeanie Buss to remain governor

LOS ANGELES — Businessman and philanthropist Mark Walter has reached an agreement to acquire a majority stake in the Los Angeles Lakers, the team announced Wednesday.

Walter, who has been a minority owner of the Lakers since 2021, will complete the purchase from the Buss Family Trust later this year. Jeanie Buss will remain the team’s governor and continue to oversee day-to-day operations.

“The Buss family is deeply honored to have looked after this incredible organization for almost half a century,” Buss said in a statement. “Mark shares our values and has been an excellent partner over the past four years. We’re thrilled to continue working with him to further the Lakers’ extraordinary legacy.”

Walter is chairman and CEO of TWG Global, a diversified holding company, and also has ownership interests in the Los Angeles Dodgers, WNBA’s Los Angeles Sparks, Billie Jean King Cup, Cadillac Formula 1 Team, and the Professional Women’s Hockey League.

“The Lakers have long been one of the most iconic franchises in sports,” Walter said. “I admire what Dr. Jerry Buss, Jeanie and the Buss family have built, and I know how much this organization means to Southern California and fans around the world. I look forward to working with Jeanie to lead the Lakers into their next era.”

Under the Buss family’s 46-year ownership, the Lakers have won 11 NBA championships, more than any other team during that span. The franchise’s storied history includes legends such as Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, Shaquille O’Neal, LeBron James, and Luka Doncic, along with coaches and executives like Pat Riley, Phil Jackson, Jerry West and Bill Sharman.

Jeanie Buss became the first female controlling owner to lead a team to an NBA title when the Lakers won the 2020 championship.

The sale is expected to close in the third or fourth quarter of 2025, pending customary closing conditions and NBA approval.

Guggenheim Securities is serving as financial advisor to Walter, with Davis Polk & Wardwell LLP acting as legal counsel. ArentFox Schiff LLP is advising the Lakers and the Buss family.