Businessman Mark Walter is reportedly scheduled to present his bid to acquire the Los Angeles Lakers to the NBA’s Advisory Finance Committee on Friday and could be approved as the franchise’s new majority owner by the end of the month, according to ESPN’s Ramona Shelburne.
NBA’s Advisory Finance Committee Reviewing Mark Walter’s Bid
ESPN’s Shams Charania reported in June that the Buss family agreed to sell majority ownership of the Lakers to Walter at a valuation of $10 billion.
“The committee will review Walter’s bid at a $10 billion valuation to buy a controlling share of the franchise from the Buss family and then make a recommendation to the Board of Governors, which could vote on whether to approve Walter as soon as the end of next week,” Shelburne wrote.
Mark Walter took the next step in purchasing the Lakers today, but @ramonashelburne says Jeanie Buss will “definitely be involved in the brand and the business.” 🏀 pic.twitter.com/Yumutlm305
— ESPN Los Angeles (@ESPNLosAngeles) October 24, 2025
If Walter’s bid is approved, the Buss family will retain a minority ownership stake of more than 15%.
Lakers governor Jeanie Buss noted in a statement that she will “continue to oversee all team operations on a day-to-day basis for the foreseeable future” after the sale.
Walter Owns Dodgers, Sparks
Walter, 65, is already the controlling owner of the Los Angeles Dodgers and owns the WNBA’s Los Angeles Sparks, the Billie Jean King Cup, the new Cadillac Formula 1 team, and the Professional Women’s Hockey League. He is also a part owner of Chelsea FC of the English Premier League.
If approved, the $10 billion valuation and purchase of the Lakers will demolish the record set by Josh Harris’ purchase of the Washington Commanders for $6.05 billion in 2023 and surpassed by Bill Chisholm’s $6.1 billion purchase of the Boston Celtics in July.
Walter purchased the Dodgers in 2012 for $2.15 billion, and the historic MLB franchise is now valued between $6.8 billion (Forbes) and $7.73 billion (Sportico), per Shelburne.
Lakers Have Won 17 NBA Titles
If Walter’s ownership application is approved by the Board of Governors, he will take over one of the most storied and successful franchises in professional sports history.
The Lakers’ 17 NBA championships are the second most in league history behind only the Celtics’ 18 titles, and their 32 NBA Finals appearances are the most all time.
L.A. last won a championship in 2020 against the Miami Heat, and the franchise has made three consecutive playoff appearances since 2022.
The Purple and Gold, however, suffered back-to-back first-round exits during that span.
