A new chapter begins for the Los Angeles Lakers as billionaire investor Mark Walter officially acquires majority ownership of the franchise. Jeetbuzz App Download reports that the NBA Board of Governors has approved the record-breaking transaction, valued at around $10 billion—the highest in global professional sports history. The Buss family will retain a minority share, and Jeanie Buss is set to remain on the Lakers’ board for at least the next five years, ensuring continuity through the transition.
NBA Commissioner Adam Silver praised the move, describing Walter as a figure deeply rooted in basketball culture. “Mark Walter has long been connected to the Lakers,” Silver said. “He’s not only held minority shares in the franchise but also served as the primary owner of the WNBA’s Los Angeles Sparks for over a decade. With his leadership, I’m confident the Lakers will continue their proud legacy while embracing a fresh era of growth and innovation.” His remarks reflect optimism across the league that Walter’s stewardship will strengthen both the franchise and the NBA’s global brand.
While the sale shifts majority control away from the Buss family, their influence remains woven into the team’s identity. Silver extended heartfelt appreciation to the family for 46 years of visionary ownership that shaped the Lakers into a global powerhouse. “The Buss family defined excellence,” he said. “It’s encouraging that Jeanie Buss will remain as president, ensuring the Lakers stay true to their roots while adapting to new ambitions.”
Jeanie Buss expressed confidence in Walter’s leadership and highlighted their long-standing partnership. “Over the past decade, I’ve seen Mark’s passion and commitment firsthand,” she shared. “What began as a business collaboration has grown into a genuine friendship and shared mission. He’s determined to bring championships back to Los Angeles, and I believe in the future we’re building together.” Her statement captured both gratitude for the past and excitement for what lies ahead.
The Lakers’ ownership story traces back to 1979, when the late Jerry Buss purchased the franchise for $67.5 million—a move that forever changed the NBA landscape. After his passing in 2013, his children carried the torch. Now, with Walter’s record-breaking acquisition, the team enters a new era built on modern business insight and enduring legacy. As Jeetbuzz App Download follows this monumental shift, Lakers fans worldwide are hopeful that this fresh leadership will restore the franchise to championship glory once again.