If you haven't checked the headlines lately, the ground just shifted under Crypto.com Arena. For nearly half a century, the Lakers were a family business. Dr. Jerry Buss bought the team in 1979 with a handful of real estate deeds and a dream, eventually handing the keys to his six children. But as of late 2025, that era has officially closed.
Mark Walter, the deep-pocketed CEO of Guggenheim Partners and lead owner of the Los Angeles Dodgers, is now the majority owner of the Los Angeles Lakers.
It wasn't a hostile takeover. It wasn't a messy bankruptcy. Honestly, it was a $10 billion "checkmate" that redefined what a sports franchise is actually worth. While the Buss name is still on the masthead in a reduced capacity, the power has moved to the same group that turned the Dodgers into a perennial juggernaut.
The $10 Billion Deal: Who Really Owns the Lakers Now?
In October 2025, the NBA Board of Governors gave the green light to a deal that made the previous record for a sports team look like pocket change. Mark Walter, along with his longtime business partner Todd Boehly, secured a roughly 85% stake in the team.
To understand how we got here, you've gotta look back at 2021. That's when Walter and Boehly first dipped their toes in, buying a 27% minority stake from Philip Anschutz. That deal gave Walter the "right of first refusal"—basically a legal VIP pass that meant if the Buss family ever decided to sell, he got the first phone call.
The current ownership pie looks something like this:
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- Mark Walter & Todd Boehly: The new heavyweights holding the vast majority (approx. 85%). Walter is the primary "Governor" in the long term, though Jeanie stays in the chair for now.
- The Buss Family: They’ve retained a 15% minority stake. This was the minimum amount needed for Jeanie Buss to keep her title as Team Governor.
- Patrick Soon-Shiong: The biotech billionaire and LA Times owner still holds his roughly 4% slice.
- Edward Roski Jr.: The real estate magnate keeps a small 3% piece of the legendary pie.
Why Did Jeanie Buss Sell the Majority Stake?
This is the question every fan in LA is asking over street tacos. Why give up the crown jewel?
The reality is sorta complicated. It boils down to a mix of estate planning and cold, hard cash. Jerry Buss’s original trust was set up in a way that some experts called a "last man standing" arrangement. If one sibling passed away, their share didn't necessarily go to their own kids; it got split among the surviving siblings.
For the older Buss children, that created a weird incentive. If they wanted to leave a massive inheritance to their own children, they couldn't just hold the team forever. They needed to liquefy the asset. By selling at a $10 billion valuation, each of the six siblings reportedly walked away with nearly a billion dollars.
There’s also the "Guggenheim Factor." The Lakers have been run like a mom-and-pop shop for years. Meanwhile, the new NBA is dominated by tech moguls and private equity titans with infinite balance sheets. To compete for guys like Luka Dončić (who the Lakers are now building around) and pay the astronomical luxury tax bills, the team needed a bigger engine. Mark Walter is that engine.
Jeanie Buss: Still the Face, But Not the Boss?
Don’t expect Jeanie to disappear. As part of the sale, she’s staying on as the Team Governor for at least the next five years.
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She still runs the day-to-day. She’s still the one hugging players after a big win. But the ultimate financial calls—the kind that involve hundreds of millions in luxury tax or massive stadium renovations—now go through Mark Walter’s office at Guggenheim.
It’s a win-win for her, really. She gets to keep her legacy and the job she loves, but she no longer has to worry about her brothers, Jim and Johnny, trying to stage a boardroom coup like they did back in 2017. That drama is officially buried under a mountain of Walter’s cash.
The New Ownership Philosophy
What changes for you, the fan? Honestly, probably a lot of spending.
Look at what Walter did with the Dodgers. He walked in, spent $2 billion to buy the team, and immediately started green-lighting $300 million contracts like they were grocery lists. He cares about "content" and winning. To him, the Lakers aren't just a basketball team; they are the premier global sports brand.
We’re already seeing the "Dodger-ification" of the Lakers:
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- Analytics Overhaul: The days of relying on "Lakers Legends" and family friends for scouting are fading. Walter is bringing in the same data-heavy approach that made the Dodgers a factory for talent.
- Spending Aggression: With LeBron James in the twilight of his career and the team pivoting to a new era, expect the Lakers to be the most aggressive players in free agency. They aren't scared of the "Second Apron" tax penalties anymore.
- Global Expansion: Walter has stakes in Chelsea FC and the WNBA’s Sparks. He views the Lakers as a piece of a global sports empire.
Misconceptions About the Lakers Sale
You’ll hear people say Phil Knight (the Nike guy) almost bought the team. That was mostly noise. While Knight was interested in the Blazers, the Lakers were always Walter’s to lose because of that 2021 contract.
Another myth? That the team is moving. Zero chance. Walter bought the Lakers because they are in LA. He now owns the two biggest icons in the city. He’s essentially the King of Los Angeles sports at this point.
What This Means for the Future
The transition is basically complete. While the paperwork might have "Buss Family Trust" in the fine print for that 15%, the checks are being signed by TWG Global (Walter’s holding company).
The goal is pretty clear: catch up to the Celtics’ 18 titles and then pass them. With the resources Walter brings, the "poor" version of the Lakers—the one that let Caruso walk to save money on tax—is dead and gone.
How to Track the New Ownership's Impact
- Watch the Trade Deadline: If the Lakers take on "bad" contracts just to get better players, that's Walter's influence.
- Monitor Executive Hires: Look for names coming over from the Dodgers' front office or Guggenheim’s analytical wings.
- Check the Luxury Tax: The NBA publishes these figures annually. If the Lakers are consistently in the top three spenders, the new ownership is doing exactly what they promised.
Actionable Insight for Fans: If you're a season ticket holder or a frequent visitor to the arena, keep an eye on the "fan experience" upgrades. Walter is known for reinvesting in infrastructure. Expect a total overhaul of the digital experience and potentially more aggressive pursuit of a Lakers-owned arena or a significantly better lease deal as 2041 approaches.