Today is a pivotal moment in sports history: Buses have reached a deal to sell a majority stake in the Los Angeles Lakers, with Mark Walter, chairman and CEO of TWG Global, a huge deal that values the franchise $10 billion. That surpassed the Boston Celtics’ record for $6.1 billion in sales earlier this year.
“The Bus Family has agreed to sell controlling shares of the Los Angeles Lakers in honor of Walter … at a record-breaking $10 billion valuation.” – The Associated Press
ESPN confirmed that the deal would make the deal “the largest deal ever for a professional sports franchise in the U.S., effectively ending 46 years of management of the bus family and bringing the Lakers into the iconic “Showtime” dynasty since Jerry Buss bought the team for $67.5 million in 1979.
Despite changes in ownership, Jenny Bus– The person who has been the Governor of the Team since 2013 – will continue to take on her role to ensure the continuity of leadership.
Buyer Mark Walter already owns stakes in several major teams including the Dodgers and Sparks. The deal cemented his local presence and demonstrated the strong appeal of Premier League football giant Todd Boehly’s team Chelsea, who also holds minority ownership.
“Lakes fans should be ecstatic…he is driven by victory, excellence and the right way…Mark Walter is the best choice and will be the best caretaker of the Lakers brand.” – Magic Johnson, Lakers legend and business partner of Walter
This statement reflects Walter’s optimism, who transformed the Dodgers into a dominant force – two World Series champions and 11-point divisions won the championship during his tenure.
Why is this sale important
- Unprecedented valuation: The Lakers became the most valuable sports team in North American history for $10 billion.
- The end of the era: The sale ended the nearly five decades of the Bus Family’s chapter, an unparalleled dynasty in NBA history.
- Strategic Continuity: Jeanie Buss’ continued involvement ensures stability on and off the court.
- Financial muscles: With Walter’s history, the Lakers are expected to deepen their investment in player development, analysis and infrastructure.
Looking to the future
LeBron James held a $53 million player option on June 29 and made a high-profile acquisition of Luka Doncic in February, Walter’s leadership could reshape free agents and Lakers’ strategy on the court. Under his Dodge regime, investment expanded to the victory of elite facilities and analytics teams, a similar shift in Los Angeles basketball.
Starting watching this space in Lakers history, it’s a new chapter to begin – a blend of legacy and innovation supported by deeper pockets and new visions.
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