The Boston Celtics won't be the only NBA team changing ownership, with ESPN insider Shams Charania reporting that the Buss family is selling majority ownership of the Los Angeles Lakers to Mark Walter. This comes 3 months after the Grousbeck family sold the majority ownership of the Celtics to Bill Chisholm. In the sale, Walter will be purchasing the team for $10 billion, the largest sports sale in history.
The Buss family has had majority ownership of the Lakers since 1979, when Jerry Buss purchased them. Following his death in 2013, ownership was passed down to his children, with Jerry's daughter Jeanie serving as the governor of the team. Walter was first brought on as a minority owner of the franchise in 2021. Jeanie will continue her role as Lakers governor following the sale.
Owning a sports franchise isn't new for Mark Walter, as he owns varying stakes in multiple teams and leagues, including the Los Angeles Dodgers of the MLB, the Los Angeles Sparks of the WNBA, and the Professional Women's Hockey League (PWHL), among others. Walters has been a huge reason for the success of the Dodgers with his willingness to spend so much money to build a championship team. The Dodgers currently have the highest total payroll in the league.
What This Means for the Celtics Rival
With Walter now holding majority ownership, given how he operates his other teams, the Lakers are going to be aggressive for their 18th championship. That all begins with locking in guard Luka Doncic to a contract extension. After that, everything turns to building a championship roster around Doncic and LeBron James.
The future of guard Austin Reaves will be interesting as, after this year, he can opt out of his contract and become a free agent. The Lakers could find it more beneficial to move him instead of paying him. The Lakers will also be in search of a starting center in the offseason.
Regardless of what direction they go with their roster, one thing is obvious: the Lakers will now be a more formidable rival under new ownership with a higher willingness to spend.