Lakers Sale: Magic Johnson on $10B Walter Deal
- The NBA world was shaken Wednesday by reports that the Buss family has agreed to sell a majority stake in the Los Angeles Lakers.
- The Buss family trust currently holds 66% ownership of the team, a legacy dating back to 1979.
- The NBA must approve the sale before Walter officially takes over as majority owner of the Los Angeles Lakers.
Mark Walter is set too acquire a majority stake in the Los Angeles Lakers,shaking the NBA world. reports confirm the Buss family‘s agreement to sell, with the TWG Global CEO poised to take over the primary ownership, pending league approval.Jeanie Buss will remain as the team’s governor, ensuring leadership continuity. The deal, made public on June 19, 2025, marks a critically important shift in Lakers ownership, with the NBA needing to endorse the deal. News Directory 3 is reporting on the unfolding developments surrounding the Lakers sale.Discover what’s next.
Mark Walter Poised to Acquire Majority Stake in Los Angeles Lakers
Updated June 19, 2025
The NBA world was shaken Wednesday by reports that the Buss family has agreed to sell a majority stake in the Los Angeles Lakers. Mark Walter, CEO and chairman of TWG Global, is expected to become the new majority owner of the Los Angeles Lakers, pending league approval.
The Buss family trust currently holds 66% ownership of the team, a legacy dating back to 1979. Despite the sale of the Los Angeles Lakers, Jeanie Buss will continue to serve as the team’s governor, a position she has held since her father, Dr.Jerry Buss, passed away in 2013.
What’s next
The NBA must approve the sale before Walter officially takes over as majority owner of the Los Angeles Lakers. the transition is expected to be seamless, with Jeanie Buss remaining in her leadership role.