Despite missing out on this year’s NBA playoffs, the Los Angeles Lakers have made headlines during the NBA Finals by announcing the sale of a majority stake to Mark Walter, owner of MLB’s Dodgers and CEO of Guggenheim Partners. The Buss family, which has owned the Lakers for 46 years, is stepping back in a move aimed at positioning the franchise for long-term competitiveness amid major shifts in sports and media.
The deal, reported by ESPN, gives the Lakers the highest valuation of any sports franchise globally—surpassing even the Boston Celtics’ $6.1 billion sale following their 18th championship last year.
As private equity continues to reshape sports ownership, the Lakers’ deal underscores a growing trend: institutional investors bringing massive capital to historically family-owned franchises. The NFL recently joined other major leagues in allowing private equity ownership, further fueling the rise in franchise valuations.
Jerry Buss originally bought the Lakers in 1979 for $67.5 million—a sum that included the Kings and the Forum arena. Today’s deal marks a massive return on investment and a generational shift in ownership.
With 35 NBA championships between them, the Lakers and Celtics are now both controlled by deep-pocketed investors. Walter, who already owns stakes in the LA Sparks, Cadillac’s F1 team, the Billie Jean King Cup, and the Professional Women’s Hockey League, adds another iconic franchise to his sports portfolio.
Source: Forbes
