Mark Walter is on the brink of being approved as the new owner of the Los Angeles Lakers, with an important presentation set for Friday to the NBA Advisory Finance Committee. Following this meeting, the committee will make a recommendation to the NBA Board of Governors, which is expected to vote on welcoming Walter into the league as the Lakers’ controlling owner by next week.
The esteemed Buss family has agreed to sell a majority ownership stake in the Lakers to Walter, setting the franchise’s valuation at an astonishing $10 billion. This figure not only marks a significant milestone for the Lakers but also sets a record in American professional sports, surpassing the previous high of $6.1 billion held by the Boston Celtics.
Despite the sale of majority ownership, Jeanie Buss has confirmed that the Buss family will retain a minority stake in the team and that she will continue as the Lakers’ governor, overseeing daily team operations for the foreseeable future.
Walter, a 65-year-old business magnate and CEO of Guggenheim Partners, already has a robust portfolio in sports ownership. He is the current owner of the Los Angeles Dodgers, champions of Major League Baseball, as well as the WNBA’s Los Angeles Sparks. Additionally, Walter’s ownership interests extend to the Cadillac Formula One team, the Professional Women’s Hockey League, and partial ownership of Chelsea Football Club and the Billie Jean King Cup.
If his ownership proposal is approved, Walter will step into leadership of one of the most iconic franchises in all of sports. The Lakers boast 17 NBA titles, the second-most in league history, and have appeared in the NBA Finals 32 times, holding the record for the most appearances.
Though the Lakers secured their last championship in 2020, the team has made three consecutive playoff appearances and enters the 2025-26 season with renewed optimism, particularly due to the star power of players like LeBron James and Luka Dončić. However, challenges loom as James is expected to miss the initial weeks of the season due to sciatica. This absence was felt in their season opener, where the Lakers fell to the Golden State Warriors with a score of 119-109.
As the Lakers navigate this transitional phase in ownership and player health, the future holds both challenges and opportunities for the storied franchise.