When Jerry Buss bought the Lakers for $67.5 million, partly in cash and partly through real estate, back in 1979, he didn’t know what this franchise would turn into. The purchase wasn’t just for the Lakers but also included the LA Kings and The Forum in Inglewood. What followed was the rise of the “Showtime” era as rookie Magic Johnson led them to a title in his first year. Over the next three decades, the Lakers claimed ten championships under Jerry’s ownership. His vision turned the franchise into a global sports empire.
After Jerry Buss passed away in 2013, Jeanie Buss officially took over as controlling owner of the Lakers. She inherited 66% of the team through the Buss family trust and carried her father’s legacy forward. In 2020, she made history as the first woman to own a championship-winning NBA team. Jeanie had been learning the ropes since her teens. Now, more than a decade after taking charge, she’s preparing to part ways with majority ownership of the franchise.
The confirmed buyer is Mark Walter, a familiar name in LA sports who has already held a minority stake since 2021. Though financial details weren’t fully disclosed, the sale is expected to close by late 2025. Despite handing over control, Jeanie’s role isn’t ending. In fact, the surprising twist is that she’s staying on as governor. So, what does that mean for the Lakers’ future day-to-day operations? Dan Woike reported, “Jeanie Buss will remain governor of the franchise and continue to oversee all team operations on a day-to-day basis for the foreseeable future.”
On Wednesday morning, both Buss and Walter made their first public statements. Jeanie expressed pride in her family’s legacy, saying, “The Buss family is deeply honored to have looked after this incredible organization for almost half a century.” She added that she has full trust in Walter’s vision and emphasized their shared values. Jeanie said they were thrilled to keep working together to uphold the Lakers’ legendary reputation. Mark Walter echoed that sentiment, praising the Lakers’ impact on the sports world. “The Lakers have long been one of the most iconic franchises in sports,” he said. Walter made it clear he respects Jeanie’s leadership and looks forward to collaborating with her.
“Jeanie Buss will remain governor of the franchise and continue to oversee all team operations on a day-to-day basis for the foreseeable future.” https://t.co/sz4eGSdqAc
— Dan Woike (@DanWoikeSports) June 25, 2025
As someone who’s already helped shape LA sports through his Dodgers ownership, Walter stepping in may signal a new era, but one that still honors the past. The final sale will wrap up sometime after July 1, marking a major shift, but not a goodbye.
Jeanie Buss may still be around, but Rob Pelinka’s Lakers future feels less certain than ever
Jeanie Buss might still have the title of governor, but this doesn’t change the fact that things are changing fast in L.A. Her decision to sell majority ownership to Mark Walter signals more than just a shift in power. It’s a shift in how the LA Lakers operate. And the person feeling that shift the most? Rob Pelinka.
Sure, Pelinka pulled off the trade for Luka Dončić. That was huge. But fans haven’t forgotten his other moves: the Westbrook mess, or letting Alex Caruso walk for nothing. For years, his close friendship with Jeanie and ties to Kobe gave him a layer of protection. But now, with Walter stepping in, that safety net might be gone.
Sep 28, 2021; Los Angeles, CA, USA; Los Angeles Lakers owner Jeanie Buss attends media day at the UCLA Health and Training Center in El Segundo, Calif. Mandatory Credit: Jayne Kamin-Oncea-USA TODAY Sports
Walter isn’t here to preserve the past. He’s here to build something bigger. Just ask the Dodgers. As Brian Kamenetzky said on Locked on Lakers, “If Rob Pelinka is not willing moving forward to be more of a collaborator with more people around him… he will not be long for this job.”
So what now? Can Pelinka change the way he operates? Will he open up his circle and work within Walter’s more layered system? One thing’s for sure: this offseason isn’t just about rebuilding the roster. It’s about whether Rob can fit into a completely new kind of Lakers front office.
Because with Jeanie stepping back and Walter taking the reins, the Lakers are entering a new era, and Pelinka’s future is suddenly one big question mark.
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