In a landmark move set to reshape American sports ownership, the Los Angeles Lakers are being sold in a record-breaking $10 billion deal, making the NBA franchise the most valuable sports team in U.S. history, according to ESPN.

The deal will see billionaire investor Mark Walter, CEO of TWG Global, acquire controlling interest from the Buss family, ending their 46-year ownership of the storied franchise. Though Jeanie Buss will remain the Lakers’ governor, the family’s long-standing control of the team will officially come to an end.

Walter, already a minority stakeholder in the Lakers, has built a vast sports empire through TWG Global. His portfolio includes ownership of the Los Angeles Dodgers, Los Angeles Sparks, a stake in Premier League club Chelsea, the Billie Jean King Cup, and the Cadillac Formula One team.

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While terms of the Lakers deal remain confidential, the sale eclipses the previous record $6.1 billion purchase of the Boston Celtics earlier this year, and the $6.05 billion acquisition of the Washington Commanders in 2023.

NBA legend Magic Johnson, a close business partner of Walter, celebrated the development on social media:
“Laker fans should be ecstatic. Mark is driven by winning, excellence, and doing everything the right way. He’ll invest whatever it takes to win,” Johnson wrote on X.
“Just look at what he’s done with the Dodgers — he’s a proven winner.”

Walter’s stewardship of the Dodgers includes two World Series titles and a recent headline-making $700 million, 10-year deal for Japanese baseball sensation Shohei Ohtani.

The sale closes a monumental chapter in NBA history. Jerry Buss bought the Lakers in 1979 and built the franchise into a global powerhouse. Under the Buss family, the Lakers captured 11 NBA championships, ushered in the “Showtime” era with Magic Johnson, and dominated the early 2000s with Kobe Bryant and Shaquille O’Neal.

Most recently, the Lakers secured their 17th NBA title in 2020 with LeBron James, and in early 2025, made headlines with the acquisition of Luka Dončić from the Dallas Mavericks.

Walter, who gained first-refusal rights when he became a minority owner in 2021, exercised that option to complete this historic acquisition. The deal cements his position as a major force in global sports ownership and ushers in a new era for one of basketball’s most iconic teams.