The Los Angeles Lakers ownership landscape has changed dramatically with the Buss family trust agreeing to sell its majority stake. This groundbreaking deal values the franchise at $10 billion, making it the most important ownership change in NBA history. The deal surpasses the Boston Celtics' previous record of $6.1 billion from earlier this year.
Jeanie Buss will stay on as the team's governor, carrying forward her father's legacy. Jerry Buss's initial purchase of the Lakers cost just $67.5 million back in 1979. The Lakers' success under the Buss family's leadership has been remarkable. The team has won 11 NBA championships and brought in basketball icons like Magic Johnson, Kobe Bryant, Shaquille O'Neal, and LeBron James.
The family's business acumen shines through as they turned a $67.5 million investment (worth about $300 million today) into a $10 billion powerhouse. Jeanie Buss's net worth now stands at $1 billion.
This piece will get into the Buss family trust's journey to build this incredible sports dynasty. We'll look at the details of this historic sale to Mark Walter of TWG Global and what it means for this legendary franchise's future.
How Jerry Buss Built the Lakers Empire
Jerry Buss built one of sports' greatest dynasties from a modest real estate investment through his vision, business sense, and entertainment flair. His rise from scientist to sports mogul shows how the Buss family trust became the bedrock of a multi-billion dollar empire.
Real estate success and sports investments
The empire started with a $1,000 investment in a 14-unit West Los Angeles apartment building in 1959. Buss started buying real estate to add to his income as a chemistry professor and later joined forces with Frank Mariani to create Mariani-Buss Associates.
His holdings grew remarkably—by 1979, he owned about 700 properties throughout Arizona, California, and Nevada.
Buss's achievements shine brighter given his modest roots. He grew up in Wyoming, sometimes waiting in food lines with his mother, before earning his Ph.D. in physical chemistry. This analytical mindset would later reshape sports business completely.
The 1979 acquisition of the Lakers
Buss made a deal in 1979 that changed basketball forever. He bought the Lakers, the NHL's Kings, The Forum arena, and a 13,000-acre ranch from Jack Kent Cooke for $67.5 million. Many experts called it a poor investment at the time.
The stars aligned perfectly—the Lakers picked Magic Johnson first in the 1979 NBA draft, the same year Buss bought the team. This perfect match between a rookie owner and rookie superstar brought immediate success with a championship in their first season together.
Creating the Showtime era
Buss had a game-changing vision: basketball games needed entertainment value. He borrowed "Showtime" from The Horn, his favorite Santa Monica nightclub, and turned Lakers games into must-watch spectacles.
His state-of-the-art business ideas broke new ground. Buss pioneered premium floor seating because he believed that "it was about location, location, location". He also led the way in selling arena naming rights by turning The Forum into the Great Western Forum through a deal with Great Western Bank.
The Lakers won 10 NBA championships under Buss's leadership with legends like Kareem Abdul-Jabbar, Magic Johnson, and Kobe Bryant. His bold moves—such as offering Magic Johnson a 25-year, $25 million contract in 1981—helped make the Lakers basketball royalty.
The Buss Family Legacy and Succession Plan
Jerry Buss carefully planned how to pass down his beloved Lakers to his children long before he died in 2013. His careful planning would face tough tests through family power struggles that shaped the team's future.
How the trust was structured among the children
After Jerry died, his 66% controlling ownership of the Lakers split equally among his six children through a family trust. Each child received an 11% stake. The trust document, which all parties signed in 2006, clearly stated that "the Trustees shall take whatever actions are reasonably available to them to have Jeanie M. Buss appointed as the Controlling Owner of the Los Angeles Lakers, Inc.".
This role proved vital since it determined who would speak for the team at NBA Board of Governors meetings.
Jeanie, Jim, and Johnny Buss started as co-trustees. The trust gave Jeanie control of business operations while Jim ran basketball operations. The arrangement came with an important detail – Jeanie had final say and could override Jim's decisions.
Jeanie Buss's leadership and influence
Jeanie started her leadership path at age 19 when her father gave her control of the LA Strings tennis team. She managed to keep her father's belief that "the players should be the center of the organization, not her".
The team's performance declined for years until February 2017. Jeanie made a tough choice to fire her brother Jim as VP of Basketball Operations and general manager Mitch Kupchak. She explained simply: "Year after year, not making the playoffs — that was not the brand of Laker basketball that Dr. Buss had created". Magic Johnson and sports agent Rob Pelinka stepped in as replacements.
She leads like her father taught her: "You bring in the best people and you give them what they need to be successful". Her approach led to success in 2020 when she became the first female controlling owner to win an NBA Championship.
Family dynamics in running a sports franchise
Business relationships in the Buss family often mixed with personal issues. Jeanie and Jim clashed before their father died, especially when Jim hired Mike D'Antoni instead of Phil Jackson (Jeanie's fiancé at the time) as head coach in 2012.
Things got worse in 2017 when Johnny and Jim Buss tried to remove Jeanie from the team's board of directors. She had to file a lawsuit to protect her position. She explained it clearly: "My dad had his children, but the Lakers were his baby.
He expected me to protect the baby". The fight ended up with Jeanie winning, and her siblings gave her lifetime control of operations.
Family relationships still affect major decisions today, including the 2025 sale to Mark Walter, which needed most siblings to approve.
The 2025 Sale: Breaking Down the $10B Deal
The sports world received shocking news in June 2025. The Buss family trust agreed to sell its majority stake in the Los Angeles Lakers. The historic deal valued the team at $10 billion. This record-breaking transaction became the largest sale of a professional sports franchise ever.
Why the Buss family decided to sell
The decision to sell came from multiple factors. The NBA franchise valuations shot through the roof. Recent sales painted a clear picture – the Celtics went for $6.1 billion and the Mavericks sold for $3.5 billion.
The timing couldn't have been better. Mark Walter's purchase of a 27% stake in 2021 set the stage as he proved himself a reliable partner. The Buss family will keep about 15% ownership after the deal closes.
Who is Mark Walter and what does he bring
Mark Walter brings an impressive track record to the table. The 65-year-old billionaire's net worth stands at $6.1 billion. He serves as CEO of Guggenheim Partners, which manages over $325 billion in assets. Walter's steadfast dedication to winning shines through his ownership of the Dodgers.
The team captured two World Series titles and 11 NL West divisional championships under his leadership. His sports empire spans across the WNBA's Sparks, Chelsea FC, and the Cadillac Formula 1 team.
How this compares to other major sports sales
The $10 billion price tag shatters all previous records. The Boston Celtics ($6.1 billion) and Washington Commanders ($6.05 billion) sales pale in comparison. Jerry Buss's initial investment of $67.5 million in 1979 multiplied roughly 148 times. Sports franchise values continue their remarkable climb upward.
Jeanie Buss Net Worth and the Family’s Financial Future
The Buss family trust members have seen their personal wealth skyrocket after completing the $10 billion Lakers sale. This landmark deal has altered the map of their financial future.
How much Jeanie Buss is worth post-sale
Jeanie Buss's net worth will multiply by a lot from her previous $1 billion valuation after this landmark deal. She owns 11% of the Lakers through the family trust as the controlling owner, which means her share from the sale should reach nearly $1.1 billion. Her total wealth could now touch $2 billion, making her one of the wealthiest female sports executives in the world.
What the family retains after the deal
The Buss family still holds onto their Lakers connection. They'll keep about 15% ownership stake after the sale goes through. Jeanie stays on as the team's governor, which keeps her leadership role intact and maintains her family's ties to the franchise their father helped build. Their ongoing involvement will keep the Buss legacy and Lakers history connected for years to come.
New business ventures and opportunities
The massive windfall opens new doors for Jeanie and her siblings. They might invest in other professional franchises, given their deep knowledge of sports management. The family could branch into entertainment, real estate development, or technology investments. These moves would vary their portfolio beyond their father's original vision while building on his entrepreneurial spirit.
Conclusion
The Buss Family Trust turned a $67.5 million investment into a massive $10 billion empire. They built one of the most valuable sports franchises in history. Jerry Buss's idea to mix basketball excellence with entertainment reshaped not just the Lakers, but the entire NBA.
His children carry on his legacy, with Jeanie Buss staying on as team governor even after the landmark sale to Mark Walter.
The Buss family faced major challenges during their ownership. Internal power struggles threatened to split their control. Jeanie stepped up as the strong leader her father wanted to see. She led the franchise to another championship in 2020 and brought it to this historic value.
Mark Walter's purchase means much more than just money changing hands. His proven track record with the Dodgers shows he knows how to win championships. He brings both experience and deep pockets that could take the Lakers to new heights. The $10 billion price tag breaks all previous records and shows how much sports teams have grown in value over the last several years.
Keeping a 15% ownership stake proves the family's deep connection to the franchise. The end of their majority ownership doesn't take away from their huge influence on basketball. The Lakers grew from a valuable sports team into a worldwide brand known for excellence and entertainment under their watch.
This deal creates many opportunities for the Buss siblings. They can use this money to start new ventures while staying involved with the Lakers. Their name will stay connected to the purple and gold for years. This sale marks both an ending and a beginning – the peak of Jerry Buss's amazing vision and the start of a new Lakers chapter.
FAQs
Q1. What is the value of the Los Angeles Lakers in the 2025 sale?
The Los Angeles Lakers are being sold at a historic valuation of $10 billion, making it the largest sale of a professional sports franchise in history.
Q2. Who is purchasing the majority stake in the Lakers?
Mark Walter, the CEO of Guggenheim Partners and a billionaire with a net worth of $6.1 billion, is acquiring the majority stake in the Los Angeles Lakers.
Q3. Will the Buss family retain any ownership after the sale?
Yes, the Buss family will maintain approximately 15% ownership stake in the Lakers following the transaction.
Q4. What role will Jeanie Buss have after the sale?
Jeanie Buss will remain the team's governor and continue to oversee the Lakers' day-to-day operations, preserving her leadership role within the organization.
Q5. When is the Lakers sale expected to be finalized?
The sale of the Los Angeles Lakers is expected to close in the third or fourth quarter of 2025, subject to customary closing conditions and NBA approval.
