Sparks' Owner Mark Walter Acquires Majority Ownership of Lakers From Buss Family
Mark Walter has agreed to purchase a majority ownership stake of the Los Angeles Lakers from the Buss family for approximately $10 billion — the largest-ever sale of a U.S. professional sports franchise, per ESPN.
Jerry Buss bought the Lakers for $67.5 million in 1979 before passing down control of the franchise to his children when he passed away in 2013.
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Walter has been a Lakers minority stakeholder since 2021 and has ownership in other professional sports organizations including the MLB's Los Angeles Dodgers and WNBA's Los Angeles Sparks.
The WNBA and NBA Board of Governors unanimously approved the purchase of the Sparks in 2014 by Guggenheim Partners, an investment group led by Walter, Magic Johnson and fellow Dodger co-owners Todd Boehly, Robert Patton and Stan Kasten.
Previous Sparks' Paula Madison told the league that her company could no longer operate the team prior to the 2014 purchase, and that her family lost $12 million operating the franchise since buying it from the Buss family in 2007 — before Walter's group stepped in.
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"Their knowledge of L.A., their passion for sports in L.A., it's just a great thing," WNBA president Laurel Richie told ESPN after the 2014 sale. "I could say it a million times: We are truly, truly excited."
Just two years later in 2016, the ownership group was awarded with the Sparks' third WNBA title in franchise history.
Walter has been a minority stakeholder in the Lakers since 2021 and has interests in multiple professional sports organizations, including the LA Dodgers, WNBA's Los Angeles Sparks, the Billie Jean Cup, Cadillac Formula 1 team and the Professional Women's Hockey League. https://t.co/mgZkxcdXnp
— Shams Charania (@ShamsCharania) June 18, 2025
Johnson echoed support for Walter in a recent X post following the blockbuster Lakers transaction.
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Mark Walter is the best choice and will be the best caretaker of the Laker brand," Johnson said. "The proof is in the pudding on what he’s been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner notching 2 World Series and 11 NL West divisional titles in the last 12 years!
"Laker fans should be estatic. A few things I can tell you about Mark - he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win!" he continued. "I can understand why Jeanie sold the team to Mark Walter because they are just alike - they are competitive people."
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Sparks Waive Two Players Ahead of 2025 Season
Sparks’ Cameron Brink Revisits Feeling After Tearing ACL
For more news and notes on the Los Angeles Sparks, visit Los Angeles Sparks on SI.
Ben Geffner is an award-winning sports journalist and current student at the University of Maryland's Philip Merrill College of Journalism. A greater Los Angeles native now with countless years of extensive and dedicated experience — including beat reporting, writing, play-by-play broadcast, television anchoring, podcasting and video production — Ben remains eager to contribute as credentialed media covering the LA Sparks.
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