Mark Walter is officially taking over as the new majority owner of the Los Angeles Lakers, and both he and Jeanie Buss are expressing optimism about the franchise’s future. Following the NBA Board of Governors’ unanimous approval, Walter shared a heartfelt statement about the Lakers’ legacy and his commitment to maintaining their standard of greatness.
“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,” Walter said. “Few teams carry the legacy and global influence of the Lakers, and it’s a privilege to work alongside Jeanie Buss as we maintain that excellence and set the standard for success in this new era, both on and off the court.”
Buss, who will remain as the team’s governor and oversee day-to-day operations, also released a statement celebrating the new partnership. She praised Walter’s leadership and expressed excitement for what lies ahead.
“Over the past decade, I have come to know Mark well, first as a businessman, then as a friend and now as a colleague,” said Buss. “He has demonstrated time and time again his commitment to bringing championships to Los Angeles, and on behalf of Lakers fans everywhere, I am beyond excited about what our future has in store.”
NBA Commissioner Adam Silver also made a statement, expressing confidence that Walter is well-equipped for the role. In closing, he congratulated Jeanie on her historic track record as majority owner.
“As Mark assumes his role as majority owner of the Lakers, I do not doubt that he will be a committed steward of the team and a great addition to our league given his many successful ventures in business and sports,” said Silver, via Ryan Ward. “I also want to thank and congratulate Jeanie Buss and the Buss family for 46 years of transformational leadership and service.”
It’s the end of an era for the NBA, and especially for the Lakers. Under the Buss regime, the Purple and Gold thrived with 11 championships and 17 Finals appearances. They lured countless stars, ranging from Kobe Bryant to LeBron James.
While Jeanie’s tenure included some dark times for the franchise, she always worked in the best interest of the team. In the end, the league simply outpaced her financially, and Mark Walter made an offer she couldn’t refuse: $10 billion.
With a net worth of roughly $13 billion, Walter’s resources are endless, and his pockets run deep. For the first time in decades, the Lakers can finally catch up to their rivals in areas like infrastructure, staffing, and technology.
More importantly, Walter brings a renewed sense of purpose to the Lakers. While Jeanie will continue running the team as President, Mark will guide the franchise as the ultimate authority, and he expects results.
For Jeanie Buss, this moment represents both an ending and a new beginning. She carried her father’s vision further than anyone could have expected, guiding the Lakers through triumphs and challenges with the same pride that defined the Buss family legacy. For Mark Walter, it marks the start of a new chapter built on deep resources, bold ambition, and a commitment to restoring the Lakers to the very top of the basketball world. Together, their partnership signals that the Purple and Gold are ready to evolve once again while never losing sight of the legacy that made them great.
