Even several weeks after Jeanie Buss agreed to sell a majority stake in the Los Angeles Lakers to Mark Walter, her long-term future with the organization remains uncertain.
A pair of conflicting reports have emerged on just how long Buss will remain the governor of the Lakers. In one report, the Buss family’s agreement with Walter stipulates that Jeanie Buss stays in the governor role for at least five more years, according to The Athletic. However, another report indicated that Buss’ term will end in 2030, per Front Office Sports.
When news first broke of the Buss family’s decision to sell the Lakers to Walter in June, it was reported that the plan was for Buss to remain with the organization as its governor. However, there wasn’t an indication of how long that would be the case.
Walter’s decision to allow Buss to remain the Lakers’ governor after the sale isn’t unprecedented, but there have been mixed results with similar agreements in the past. After he agreed to sell his majority stake in the Dallas Mavericks in 2023, Mark Cuban said he would remain the governor. But Patrick Dumont wound up taking that role by the end of the 2023-24 season. The Boston Celtics also have a similar agreement in place, with Bill Chisholm’s group allowing departing owner Wyc Grousbeck to remain on as governor through 2028.
Unlike those two arrangements, though, the Buss family and Walter have a prior working relationship. Walter teamed up with Todd Boehly in 2021 to buy a 27% stake in the Lakers, which gave him the first rights to purchase the team if the Buss Family ever agreed to sell their majority stake.
Walter agreed to buy the majority stake in the Lakers for a $10 billion valuation, which is the richest purchase of a franchise in sports history. He’s also been a part of the Los Angeles Dodgers’ ownership group since 2012 and has been the primary owner of Andretti Global along with the WNBA’s Los Angeles Sparks.
Incoming Lakers owner Mark Walter has been a part of the Dodgers’ ownership group for over a decade. (Photo by Keith Birmingham/MediaNews Group/Pasadena Star-News via Getty Images)
Since Walter’s agreement to purchase the team in June, there have been a few interesting developments surrounding the Lakers. Most notably, LeBron James’ long-term future with the Lakers appears to be less certain than Jeanie Buss’. While James picked up his $52 million player option for the 2025-26 season in June, his agent, Rich Paul, accompanied that decision with a statement that said James would be “monitoring” the team’s moves this offseason.
That statement has sparked trade rumors involving James that haven’t really subsided. As James’ representation asked the Lakers to make moves to help improve their chances of winning a title in 2025-26, their biggest was to sign recently bought-out Portland Trail Blazers center Deandre Ayton to a one-year deal. They also added former Sacramento Kings wing Jake LaRavia and re-signed center Jaxson Hayes, but lost forward Dorian Finney-Smith to the Houston Rockets in free agency.
Luka Doncic, whom the Lakers acquired in a surprising trade with the Mavericks in February, is also extension-eligible this offseason. While it’s unclear if Doncic will sign an extension when he becomes eligible to do so on Aug. 2, he made a statement of support for Buss and Walter shortly after the news of the Lakers’ sale in June.
“The Lakers are an amazing organization,” Doncic wrote in a statement posted to social media. “I’m looking forward to meeting Mark and excited about the future. I am also grateful to Jeanie and the Buss family for welcoming me to LA, and I’m happy that Jeanie will continue to be involved. I look forward to working with both of them to win championships!”
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