What the Ownership Change Means for the Lakers
The Stanley Cup just ended, the NBA Finals are going to Game 6, and yet, the Lakers were able to capture the worldwide sports headlines. On Wednesday, the Buss family shocked the sports world and sold their majority stake of the Lakers to Mark Walter.
BREAKING: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN. Jeanie Buss will continue to serve in her role as Governor after the sale. pic.twitter.com/1Da6LDD7TJ
— Shams Charania (@ShamsCharania) June 18, 2025
For the first time since 1979, the team is owned by someone outside of the Buss family, and it took a whopping $10 billion deal to make it happen. The sale is now the largest sale of a professional sports team in sports history.
This may be the final step into a new era for the Los Angeles Lakers.
Who is Mark Walter?
Mark Walter knows his way around a sports team and comes in with deep pockets. According to Shams Charania of ESPN, Walter has interests in multiple professional sports organizations, including the LA Dodgers, the WNBA’s Los Angeles Sparks, the Billie Jean King Cup, the Cadillac Formula 1 team, and the Professional Women’s Hockey League.
He’s been a minority stakeholder in the Lakers since 2021, but is more well-known for his majority ownership stake of the Los Angeles Dodgers.
If you don’t follow baseball, the Dodgers are the most aggressive team in free agency, and it’s not close. They swing for the fences and more often than not, have the capital to get it over the wall.
With Walter at the helm, the Lakers’ days of being petrified of the luxury tax are over. The Dodgers not only have one of the league’s highest payrolls, but also the highest luxury tax payroll in MLB history.
The Dodgers’ tax bill would be the 16th highest payroll https://t.co/YOt3GDdgaa pic.twitter.com/RsKeAiCk0i
— Jeff Spiegel (@JeffSpiegel) June 18, 2025
According to Jeff Spiegel of Dodger Blue, “— the Dodgers’ guys have committed to spending in every area that isn’t capped — scouting, analytics, player development, etc. They hire the best people and pay them accordingly, knowing nobody will ever want to leave laterally.”
That sounds like good ownership to me.
With slightly over $1B in deferred money owed in contracts, one could consider his ownership style reckless. However, one could also see it as a service to fans and a commitment to winning, and winning now.
How does this Affect the Lakers
Historically, the Lakers have hesitated to invest heavily in imperative areas like coaching salaries, front-office talent, and second-round draft picks. It never quite matched up with the world-class Lakers brand. Among Lakers fans, it’s been one of the more consistent gripes over the last number of years.
His history with the Dodgers leads you to believe it won’t be an issue moving forward.
With an owner who is comfortable paying exorbitant luxury tax fees, the Lakers can kick things into another gear. Some around the league have already taken notice.
What move should the new owner of the Lakers, Mark Walter, make first? pic.twitter.com/M1oSFtZRlz
— The Athletic (@TheAthletic) June 18, 2025
The Lakers adding this kind of financial firepower to their prestigious brand is a frightening sight for the league. Not only will they be able to financially match JJ Redick and his coaching staff’s passion for player development, but they will also take more risks in free agency in the new Luka Doncic era.
The Celtics have very recently adopted the strategy of ‘pay players now and worry about it later, ‘ and it seems to have worked out reasonably well for them. A championship and, as much as I hate to say it, utter domination has been the result.
The Lakers are an amazing organization. I’m looking forward to meeting Mark and excited about the future. I am also grateful to Jeanie and the Buss family for welcoming me to LA, and I’m happy that Jeanie will continue to be involved. I look forward to working with both of them…
— Luka Doncic (@luka7doncic) June 19, 2025
Hopefully, with a contract extension looming for Doncic, this will signal to him that the franchise is in win-now mode. When you have a legitimate face of the franchise, you must take risks.
A destination franchise with a top-three player and new money to spend? This will be fun to watch unfold.
