LA Lakers’ intended $10,000,000,000 sale to Mark Walter not decided by unanimous Buss siblings vote: Report

June 19, 2025

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Multiple reports came out Wednesday about the Buss family agreeing to sell the LA Lakers for a record $10 billion. Mark Walter, who also owns the LA Dodgers, becomes the principal owner once the deal goes through. After nearly half a century as major stakeholders, the Buss family will hand the reins of the franchise to the Walter-led group.

NBA insider Dave McMenamin gave an inside scoop into how the Buss siblings voted for the sale.

The late Jerry Buss bought the LA Lakers from Jack Kent Cooke in 1979 for $67.5 million. Following his passing in 2013, control of the franchise went to his six children via a trust that owns 66% of the team, per CBS Sports.

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Apparently, a unanimous vote was not needed for the Buss family to surrender principal ownership. Based on the intended amount of the sale and the Buss children’s total share, every Buss sibling will pocket roughly $1.1 billion.

LA Lakers legend Magic Johnson, a Dodgers co-owner, approved the deal.

Mark Walter is no stranger to arguably the NBA's flagship franchise and the Buss family. According to Shams Charania, the billionaire has held a 26% share of the franchise since 2021 and had the “right of first refusal on the majority share.” The billionaire grabbed the opportunity to become the majority owner in what will become the most expensive purchase in US sports history.

Jeanie Buss will have a key role to play for LA Lakers franchise following sale

The Buss family will retain 15% of the LA Lakers ownership “for a period of time,” according to Shams Charania. Besides a minority stake, Jeanie Buss will remain a key figure for the team.

Charania’s ESPN colleague Ramona Shelburne had the latest on Jeanie’s future involvement with the team.

Only time will tell if Mark Walter will continue to let Jeanie Buss keep her role as team governor and run the team.

In 2023, Mark Cuban sold majority ownership of the Dallas Mavericks and remained in control of basketball operations. Once the new ownership took over the following year, Cuban could not hold on to his role. Patrick Dumont, the team governor, gave the position to Nico Harrison, who also functions as the General Manager.

About the author

Michael Macasero brings a wealth of knowledge and expertise to his coverage of basketball at Sportskeeda with over 18 years of diverse work experience. This includes stints at Convergys, Interpace and RunRepeat.

Michael's background in English and Journalism has provided him with the analytical skills and precision necessary for creating content, and he is a lifelong fan of the Boston Celtics. His favorite players include legends like Larry Bird and Michael Jordan, modern stars like Tim Duncan, and Nikola Jokic, as well as emerging talent like Victor Wembanyama.

Michael respects Gregg Popovich, despite his contentious demeanor in interviews, and recognizes Popovich's genius in adapting his coaching style to maximize the talent on his roster over the years. Michael eagerly anticipates seeing how Popovich will structure the offense around emerging talent like Victor Wembanyama.

Understanding the story and details is crucial to Michael's reporting philosophy and he believes overlooking details, particularly when pressed for time, can lead to misunderstandings and inaccurate conclusions.

Aside from work, Michael's children are his hobbies, and he also likes to go running, swimming and weightlifting.

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