The Buss family is selling a controlling stake in the Los Angeles Lakers for $10 billion, ending nearly 50 years of family ownership. Mark Walter, who already owned 27%, will lead the new ownership group. This sale marks a significant shift for the Lakers, transitioning from a family-run business to one with significantly greater financial resources. The sale is expected to make Jeanie Buss extraordinarily wealthy, while providing the Lakers with enhanced resources for player development and competitive advantages. Jeanie Buss will remain governor for the time being.

Prepared by Emily Rhodes and reviewed by editorial team.