Since Jerry Buss took over the Los Angeles Lakers in 1979, the Buss family has shared an incredible 46-year journey with this legendary team, witnessing countless glorious moments, including the hype of Showtime, the glory of three consecutive championships, Kobe Bryant’s back-to-back titles, and the current dominance of LeBron James. However, all good things must come to an end, as the Buss family recently announced plans to sell most of their stake to Mark Walter, estimated at a valuation of $10 billion.
Mark Walter is the CEO of the holding company TWG Global, and since 2021, he has been one of the shareholders of the Los Angeles Lakers. He is also the owner of the Los Angeles Dodgers and holds shares in several professional sports teams, including the Los Angeles Sparks and the Cadillac Formula 1 Team.
With the completion of this transaction, while Mark Walter will take the lead in operational decisions, Jeanie Buss will continue to serve as the governance president of the Los Angeles Lakers. Fans should keep an eye on the future developments.
