The recent sale of the Los Angeles Lakers has taken the spotlight of the NBA world amid the Finals. One of the most iconic franchises in NBA history, and a family-run business, will now be taken over by businessman Mark Walters. The sale is reported to be for a massive $10 billion.
Following the sale, ESPN’s Ramona Shelburne further explained how Jeanie Buss will stay and continue to run the Lakers as governor, a position she held well before the deal.
Ramona Shelburne Explains Jeanie Buss Continuing Her Role as Lakers Governor
Speaking to Clinton Yates on ESPN Radio, Shelburne explained how Buss retained her position as the team’s governor after selling the franchise to Walters. The insider noted the deal was structured in a way that allows Buss to continue running operations.
“It’s a brand. I think Jeanie Buss understands the Lakers brand better than anybody,” Shelburne said. “I think he sees how important she is in running and keeping that brand alive, and also how she runs her business, right? Also, how she runs the franchise. So, his idea for her to stay on, and it’s in writing, like this, is that Mark Cuban did not get his role in writing. Jeanie Buss is in writing. That’s part of the deal.”
Jeanie Buss has her governorship in writing 👀
Exclusive reporting from @ramonashelburne on @clintonyates & Friends@ESPNLosAngeles pic.twitter.com/w0nmY5w2gs
— ESPN Radio (@ESPNRadio) June 19, 2025
“So, she’s staying on for the foreseeable future to run the team,” Shelburne added. “And I think it’s interesting. There’s gonna be a great continuity. But I think it’ll be a lot like how Mark Walter took over the Dodgers.”
Jerry Buss, her father, bought the team for $67.5 million in 1979 as part of a deal that included the Kings (then in Kansas City). Buss succeeded her father as the governor following his death in 2013. Shelburne’s comparison to Cuban comes after he sold his majority stake to the Adelson family for $3.5 billion, while reportedly agreeing to stay with the Dallas Mavericks and retain control of basketball operations.
However, months after the move, reports said Cuban would no longer manage operations. Unlike Buss, he did not hold the governor position. In related news, team superstar Luka Dončić posted on social media, sharing his excitement for the Lakers after the major business move. The team secured its future after landing the Slovenian star ahead of this season’s trade deadline.
With the latest developments, what’s interesting now is how the team approaches a new era of basketball with a new name leading the ownership group. The Lakers’ immediate goal will be to add reliable pieces around LeBron James and Dončić. The team finished with an impressive 50-32 record in the regular season but was trounced by the Minnesota Timberwolves in the First Round of the playoffs.