Mark Walter buys Los Angeles Lakers for $10 billion

The Buss family has sold the majority ownership of the Los Angeles Lakers to Mark Walter for $10 billion. Walter now owns the Lakers and the Los Angeles Dodgers. Jeanie Buss will continue to serve in her role as Governor of the Lakers, who have the second-most (17) championships in NBA history.

The Buss family has entered an agreement to sell majority ownership of the Lakers to Mark Walter, the CEO of diversified holding company TWG Global.

Despite the Lakers' status as one of the most successful and popular NBA teams of all time, Jeanie Buss was struggling to keep up with the NBA's increasingly costly expenses. Compared to other teams, the Lakers don't have such a fleshed-out analytics department, and they were always looking for ways to save money.