The Los Angeles Lakers Just Sold For $10 Billion – Here’s Who Got Paid, And How Much

In a stunning development, the Los Angeles Lakers have been sold for $10 billion.

According to Shams Charania, the Buss family has entered an agreement to sell its controlling stake in the Lakers at a $10 billion valuation to billionaire investor Mark Walter, the CEO of TWG Global and controlling owner of the Los Angeles Dodgers. The deal marks the largest sale price for a U.S. professional sports franchise in history.

As part of the deal, Jeanie Buss will retain her position as franchise governor and continue representing the Lakers on the NBA’s Board of Governors.

Born From A Real Estate Empire

Dr. Jerry Buss earned a Ph.D. in physical chemistry from the University of Southern California in 1957 at just 24 years old. Although he briefly worked in aerospace and taught chemistry at USC, he quickly realized academia wouldn’t generate the kind of wealth he envisioned. As he later joked, he turned to real estate because he couldn’t afford to buy a house on a professor’s salary.

Buss began investing in income properties with a modest initial stake, partnering with his longtime associate Frank Mariani. Together they formed Mariani-Buss Associates, a firm focused on buying undervalued apartment buildings in fast-growing parts of Los Angeles. They favored long-term holds, steady rental income, and leveraged growth.

Their early purchases included buildings in West Los Angeles, Santa Monica, and other appreciating neighborhoods. Buss reinvested profits aggressively and was known for his disciplined use of debt, once saying he didn’t start with much money but understood the power of compound appreciation and monthly cash flow.

By the late 1970s, Mariani-Buss Associates reportedly owned more than 700 income-producing properties, including thousands of apartment units and major commercial holdings across Southern California. That real estate empire became the financial foundation that allowed Jerry Buss to make the most important purchase of his life.

Buying The Lakers & Showtime

In 1979, Dr. Jerry Buss made what seemed like a risky move. He purchased the Los Angeles Lakers for $67.5 million. After adjusting for inflation, that’s around $213 million in today’s dollars. Without even adjusting for inflation, it was the most expensive sports team purchase of all time up to that point. The deal also included the Los Angeles Kings, the Forum arena, and additional real estate.

Within a few years, that risky move would become one of the most successful investments in sports history. Under Buss’s leadership, the Lakers evolved from a solid NBA franchise into a global entertainment powerhouse.

The transformation began almost immediately. With stars like Magic Johnson and Kareem Abdul-Jabbar leading the team on the court, and Buss introducing a flashier, more glamorous game-night experience, the “Showtime” era was born. Celebrities filled courtside seats, the Lakers became a must-see spectacle, and the team delivered championships. During Jerry’s ownership, the Lakers won 10 NBA titles and became a cultural institution.

Jerry Buss / David Klein/Getty Images

A Family Business

By the time of Jerry Buss’s death in 2013, the Lakers were valued between $900 million and $1 billion. He owned 66% of the franchise, with the other 34% split between two minority investors: billionaire real estate developer Ed Roski (8%) and AEG founder Phil Anschutz (26%). Buss’s 66% stake was inherited equally by his six children, giving each a roughly 11% ownership share via a family trust. Jeanie Buss was named the family’s lead representative and assumed the role of team governor.

From 2013 to 2017, the siblings shared decision-making power. But after an attempted coup by brother Johnny Buss, Jeanie ultimately secured full control over Lakers operations. She has led the team ever since, including overseeing a championship win in 2020.

Now, 46 years after Jerry’s original investment, the Buss family has agreed to sell its majority stake at a $10 billion valuation.

The $10 billion sale breaks down as follows:

When news of the deal first broke, it was reported that the Buss family was selling its entire 66% stake to Mark Walter, giving him 100% ownership. According to Bill Simmons, the Buss family actually retained an 18% stake AND a group of other individuals, which already owned 7%, also retained their stakes. Keeping in mind that Mark already owned 27%, buying an incremental 48% stake from the Buss family brought him up to 75%. Assuming this is all accurate, the math breaks down as:

• In 2021, Mark Walter paid $1.35 billion for a 27% stake, at a $4.8 billion valuation.
• In 2025, he paid $6.15 billion for an additional 48%, at a $10 billion valuation, bringing him to 75%
• The random individuals continue to own 7%

So, each of the six Buss siblings receives $1.025 billion in cash while also retaining 3% stakes that are worth $300 million apiece on paper.

Already the majority owner of the Dodgers and Chelsea FC, Mark Walter now adds the NBA’s crown jewel to his portfolio. With the Lakers, he cements his position as one of the most powerful figures in global sports ownership.