The NBA has officially approved the historic sale of the Los Angeles Lakers, ending the Buss family’s 46-year run as majority owners. Commissioner Adam Silver has now clarified exactly what role Jeanie Buss will play moving forward as Dodgers owner Mark Walter takes control of the legendary franchise.

The league’s Board of Governors unanimously approved Walter’s purchase of the majority interest in the Lakers. This $10 billion transaction represents the largest sale ever for a sports franchise worldwide. The deal is expected to be finalized in the coming days.

Commissioner Silver specifically addressed Jeanie Buss’s continuing involvement with the organization. “I am thrilled that Jeanie will remain the team’s governor and an active and engaged member of our league,” Silver stated in the official announcement. Her role as governor is secured for at least five years following the sale’s closing.

The Buss family will maintain an ongoing financial interest in the Lakers despite selling their majority stake. Jerry Buss originally purchased the team in 1979 for $67.5 million, a figure that included both the Forum arena and the Los Angeles Kings hockey team.

Mark Walter brings extensive sports ownership experience to his new role. He has served as a minority owner of the Lakers since 2021 and owns the WNBA’s Los Angeles Sparks. As controlling owner of the Dodgers, he has led that franchise to four World Series appearances and two championships since 2012.

Walter expressed his commitment to maintaining the Lakers’ legacy in his statement. “The Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence and the relentless pursuit of greatness,” he said. He specifically noted his intention to work alongside Jeanie Buss in steering the franchise forward.

The Buss family Legacy

The Buss family ownership era saw the Lakers capture 11 NBA championships. Their reign included the celebrated “Showtime” era of the 1980s, the Kobe Bryant championship runs, and the 2020 bubble championship led by LeBron James.

Jeanie Buss acknowledged her relationship with the new majority owner in her comments. “Over the past decade, I have come to know Mark well—first as a businessman, then as a friend and now as a colleague,” she stated. She expressed confidence in Walter’s commitment to bringing championships to Los Angeles.

The ownership transition comes at a pivotal moment for the Lakers franchise. The team recently acquired superstar Luka Doncic and faces decisions regarding LeBron James’s future with the organization as it builds toward its next championship pursuit.

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