President of the Los Angeles Lakers Jeanie Buss speaks during a banner unveiling ceremony for the Los Angeles Lakers 2020 NBA Championship (Photo by Harry How/Getty Images)
Every week, Mark Medina shares his thoughts and insights on the latest NBA topics for RG. In this installment, Medina gives his perspective on the Buss family selling majority shares of the Los Angeles Lakers to Mark Walter.
As she sat in her office discussing the state of the Lakers franchise, Jeanie Buss stared intently at the numerous NBA championships along her window.
She often gazed at them while discussing a once-unthinkable topic: Would the Buss family ever sell the Lakers? She answered by invoking what her father, the late Jerry Buss, would have thought.
“He worked very hard to be in a position so that our family could keep this team forever,” Jeanie Buss said. “We’re committed to doing that.”
Buss said those words to me in a wide-ranging interview during the 2014-15 season, in the midst of the Lakers’ worst stretch in franchise history. Nearly 10 years later, her stance changed.
On Monday, ESPN first reported that the Buss family plans to sell its majority ownership stake for about $10 billion to Mark Walter, who also holds stakes in the Dodgers, Sparks, and various soccer, hockey and racing teams.
A Historic Valuation for an Iconic Brand
It’s not surprising the Lakers would sell for that much, having become a globally iconic brand thanks to their 17 NBA championships, 14 retired jerseys, and wide appeal to both Hollywood and everyday Angelenos.
The Lakers sold for more than other recently acquired franchises, including their crosstown counterpart (Clippers, $2 billion in 2014), their Western Conference rival (Mavericks, $3.5 billion in 2025), and their historic nemesis (Celtics, $6.1 billion in 2025).
The team is likely worth even more than $10 billion, considering the Buss family only sold its majority stake (66%). Jerry Buss might appreciate the massive return—he purchased the Lakers, the Forum, the NHL’s Kings and real estate for a combined $67.5 million in 1979.
Still, the sale feels surprising. Jerry Buss made it clear he wanted his children to maintain the team after his death in 2013. But several developments shifted the family’s thinking.
Changing Landscape and Rising Pressure
In 2021, AEG owner Philip Anschutz sold his 27% personal stake to Todd Boehly and Walter. That move fueled speculation that Walter would eventually pursue majority control. Meanwhile, recent team sales in Dallas and Boston revealed just how high NBA franchise values had soared.
The Lakers’ value also surged after acquiring Luka Dončić from the Mavericks while LeBron James remains under contract.
The Buss family sold under the condition that Jeanie remains team governor, managing business operations and supporting the basketball staff. Now the Lakers can access a more fluid revenue stream—key, as they previously operated with caution because the team was the family’s only source of income.
Though the Lakers always spent on stars, they spent more cautiously on role players, coaches and staff. That might change. The team will prioritize whether James returns on a max deal and whether Dončić re-signs when eligible. But they now have greater flexibility to upgrade their center position and to commit to Austin Reaves once he becomes extension-eligible on July 6.
Guarding the Future While Honoring the Past
That doesn’t mean they’ll operate with a blank check.
The current payroll is $118.1 million. The team must remain below the NBA’s second apron ($207.8 million), which blocks use of the midlevel exception, restricts trades involving first-round picks for seven years, and bans including cash in trades.
They may also avoid exceeding the first apron ($195.9 million), which prevents sign-and-trade deals. But they won’t be as hesitant about crossing the luxury tax threshold ($187.9 million). They’re expected to spend more on the front office, analytics and training. Walter has taken a similar approach with the Dodgers.
Don’t expect a new Lakers arena soon—they’re under lease at Crypto.com Arena through 2041. The venue was renovated last season. But when that lease ends, a new home could be on the table.
Jeanie Buss remained adamant about not selling even as the Lakers missed the playoffs for six straight seasons (2014–19), endured Kobe Bryant’s injury-plagued final years (2013–16), and cycled through five coaches (2012–19).
After the 2017 All-Star break, Jeanie fired her brother Jim and GM Mitch Kupchak, replacing them with Magic Johnson and Rob Pelinka. Since then, the Lakers signed LeBron James (2018), traded for Anthony Davis (2019), and won a title in the 2020 bubble. Despite Magic’s 2019 resignation and ongoing roster changes, the team has remained a contender.
Now, with the Buss family selling its majority stake, they walk away wealthier—and leave the franchise in position for sustained success, just as Jerry once envisioned.
Mark Medina
