Lakers change hands: A century-old wealthy family opens a new era, and sports trading creates history

On June 19, according to ESPN famous reporter Shams, the NBA landscape has undergone major changes. After the Bass family has been in control for decades, the Los Angeles Lakers are about to change hands. The Bath family is reaching an agreement with Mark Walter, CEO and Chairman of TWG Global, to sell a majority stake in the team. The deal, valued at about $10 billion, is expected to reach 12 billion, and will be the largest sale in the history of professional sports teams in the world. Despite the team's change of ownership, Jenny Bass will continue to serve as the team's administrator. Who is Mark Walter, who is about to take over the Lakers? According to Forbes data, Walter has a net worth of $6.1 billion and has a wide range of investments, involving multiple professional sports organizations such as the Los Angeles Dodgers, the Los Angeles Sparks, Billy-Jan-Gold Cup, Cadillac F1 Team and the Professional Women’s Hockey League. As CEO of investment firm Guggenheim Partners, he manages over $300 billion in assets. Walter has been one of the owners of the Los Angeles Dodgers since 2012, when his investment group (including "Magic" Johnson) acquired the team for $2.2 billion. In 2021, he became a shareholder of the Lakers and obtained the first right to redeem the team's majority equity, and now he will finally take charge of the Lakers.

The scale of this Lakers' deal is staggering. A valuation of about $10 billion may end up at a transaction price of 12 billion, far exceeding the amount acquired by sports teams. Before this, although major team acquisition transactions in the sports industry were also highly anticipated, they were still pale in comparison with the Lakers' change of ownership. For example, in 2023, Ishbiya jointly acquired the Phoenix Suns and Mercury for $4 billion; in 2022, the Denver Broncos sold to the Walton-Pena family for $4.65 billion; in 2023, the Washington Commanders were acquired by Josh-Harris for $6.05 billion; in 2025, the Boston Celtics sold to William Chisholm for $6.1 billion. Now the Lakers' transaction of over $10 billion has successfully topped the throne of the largest team in sports history.

Recalling the relationship between the Bass family and the Lakers, in 1979, Jerry Bass acquired the Lakers for $67.5 million, along with the NHL Los Angeles Kings and Forum Arena. After Jerry passed away in 2013, the team was inherited by their children and Jenny Bass took over as the boss. Under the leadership of the Bass family, the Lakers have created glory and won 11 NBA championships in total. In 2000-2002, they achieved three consecutive championships under the leadership of Coach Phil-Jackson, O'Neal and Kobe. Last season, they won the Mavericks superstar Luca Doncic through a trade, which shocked the league even more. Currently, the Bass family holds about two-thirds of the Lakers' equity, and the specific shareholding ratio of Walter's acquisition has not been announced yet. The change of ownership of the Lakers means the end of an era and also indicates the beginning of a new era. The Lakers media generally welcome the new boss and look forward to the new boss being more generous in investment and bringing positive changes to the team's future operations. Jenny Bass continues to serve as manager, which also provides guarantee for the team's smooth transition.

For the basketball world, the Lakers' change of ownership is undoubtedly a bombshell. The new boss Mark Walter has rich experience in sports investment and strong financial resources. His takeover may bring new development ideas and strategic layout to the Lakers. It is worth waiting for it to see whether the team will take major measures in the free agent market, draft conferences and team building.

In short, the change of ownership of the Los Angeles Lakers is not only a commercial handover between the Bass family and Walter, but also a landmark event in the sports world. In the days to come, where will this traditional giant team go under the leadership of the new boss and whether it can continue to write glory is undoubtedly the topic of the majority of fans' concern.