Lakers Sale: Jeanie Buss on Mark Walter, Luka Dončić & LeBron’s Future

The Los Angeles Lakers have entered a new era, both on and off the court, following the completion of the sale of a majority stake to Mark Walter and a strategic shift in team building centered around Luka Dončić. The move, finalized last year at a June 18, 2025 valuation of $10 billion, was driven by a desire to ensure the franchise remains a top spender in the NBA, according to outgoing governor Jeanie Buss.

Buss, who will remain with the team as governor for at least the next five years, emphasized that her late father, Jerry Buss, would have supported the deal. “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,” Buss said in a recent interview with CNBC. “You need to have everybody pulling together. And he would want [that for] the Lakers, because the Lakers are his legacy.”

The sale comes after a period of internal family conflict, as detailed by ESPN, which contributed to the decision to seek new ownership. Jerry Buss’s will stipulated ownership be divided among his six children in a trust, leading to differing opinions on the future direction of the team. Buss acknowledged the decision was “bittersweet” but ultimately the best path forward for all involved.

Walter’s track record as a high-spending owner, demonstrated through his ownership of the Los Angeles Dodgers since 2012, was a key factor in the decision. The NBA operates under a salary cap, but teams can exceed it by paying a luxury tax. Currently, team spending ranges from approximately $154 million to $220 million per season, with the Lakers ranking seventh overall at $197 million, according to Basketball Reference data.

The shift in team strategy is equally significant. The Lakers have pivoted to building around Luka Dončić, acquired in a trade last year that saw Anthony Davis depart. This signals a clear move towards a younger core, lessening the reliance on the aging, but still impactful, LeBron James, who is 41 years old as of February 17, 2026.

While James’s future with the Lakers remains uncertain, Buss indicated she would defer to his decision. “Never say never, but you know, he certainly hasn’t given an indication,” Buss said. “He’s earned the right to decide how his career will go, and you know, he continues to impress.”

Beyond basketball, Buss is also involved in the premium tequila market with Cincoro, a brand she co-founded in 2016 with a group of fellow NBA team owners, including Michael Jordan, Wes Edens, and Wyc Grousbeck. The venture began during a dinner among the group, fueled by a shared passion for tequila and a competitive spirit.

“We all had a mutual appreciation for tequila,” Buss explained. “And us being a very competitive group, we thought, ‘You know what? We could probably make one better.’ And so, that night, Cincoro was born.”

Jordan’s involvement has been particularly impactful, bringing a high standard of excellence to the business. “When you work with Michael Jordan, the bar is set high,” Buss said. “Not just him as a player, but him as a businessman. And we’ve seen he’s been pretty darn successful.”

Cincoro has even secured a sponsorship with the Los Angeles Lakers, and the brand recently unveiled a limited-edition añejo bottle in the team’s signature purple and gold, a testament to both the franchise’s legacy and the tequila’s premium positioning.

The transition of ownership and the strategic shift towards Dončić represent a significant turning point for the Lakers. While the Buss family retains approximately 15% ownership and Jeanie Buss remains at the helm for the foreseeable future, the franchise is now positioned to leverage Walter’s financial resources and build a sustainable future at the top of the NBA.