Jeanie Buss Sells Majority Stake in Los Angeles Lakers to Mark Walter

In a significant shift for the Los Angeles Lakers, Jeanie Buss has sold the majority stake of the team to billionaire Mark Walter, a move she believes aligns with her late father Jerry Buss's vision for the franchise. The sale, valued at $10 billion, was finalized in late October 2025, with the Buss siblings collectively retaining about 17% ownership. Jeanie Buss emphasized that her father prioritized the Lakers' competitive standing in the NBA, stating, "What was important to him was that the Lakers stay at the top of the NBA, and to stay at the top of the NBA, you need to have the resources."

CNBCJeanie Buss says father Jerry would approve of Lakers sale

The decision to sell was not without controversy, as it followed a period of conflict among the Buss siblings regarding the team's direction. Jeanie Buss noted, "My siblings were involved in the decision that was made," indicating a collective agreement despite differing opinions. However, the sale led to the termination of five of the six Buss siblings from their roles within the organization, a move that has drawn criticism, particularly from Janie Buss, who expressed disappointment over the handling of the transition.

Jeanie Buss says father Jerry would approve of Lakers sale

Mark Walter, known for his substantial investments in Major League Baseball as the owner of the Los Angeles Dodgers, is expected to bring significant financial resources to the Lakers. The NBA's salary cap limits team spending, but Buss highlighted that owners can pay a luxury tax to enhance competitiveness. Currently, the Lakers rank seventh in team spending at approximately $197 million per season. Buss stated, "The partnership will give us the stability to continue to move forward as we build towards a team around [Luka] Doncic," indicating a strategic pivot from building around veteran player LeBron James, who is in the final year of his contract.

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Jeanie Buss has committed to remaining as the team's governor for at least five years, although she has not definitively stated whether she will fulfill the entire term. "That's what I agreed to," she remarked, while also expressing confidence in the team's future under Walter's ownership. The Lakers are now focusing on developing their roster around young star Luka Doncic, with Buss stating, "We couldn't be more proud that he is a Laker. He is a young All-Star that the fans love to see."

Jeanie Buss says father Jerry would approve of Lakers sale

Despite the optimism surrounding the sale, dissenting voices within the Buss family have raised concerns about the decision-making process. Janie Buss's remarks reflect a sentiment that the transition may not align with their father's legacy, stating, "I don't think my dad would be happy with the way things just went down." This internal conflict highlights the complexities of family dynamics in professional sports ownership.

Jeanie Buss says father Jerry would approve of Lakers sale

• "What was important to him was that the Lakers stay at the top of the NBA, and to stay at the top of the NBA, you need to have the resources." — Jeanie Buss, Owner of the Los Angeles Lakers

CNBCJeanie Buss says father Jerry would approve of Lakers sale

• "It's about the Lakers and the greatness and what the fans expect, and you need resources and you need a direction." — Jeanie Buss

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• "Never say never, but you know, he certainly hasn't given an indication." — Jeanie Buss on LeBron James's future with the Lakers

Jeanie Buss says father Jerry would approve of Lakers sale

This transition marks a new chapter for the Los Angeles Lakers, as they navigate the challenges of ownership change and team reformation while aiming to maintain their storied legacy in the NBA.

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