ArentFox Schiff represented The Los Angeles Lakers — a long-time firm client — and the Buss family in connection with the sale of a majority ownership interest in The Los Angeles Lakers, Inc. to Mark Walter. The transaction closed on October 30, 2025, following unanimous approval from the NBA Board of Governors. The ArentFox Schiff team was led by Rich Brand, co-head of the firm’s Sports Industry Group and managing partner of the San Francisco office. San Francisco-based Sports group partner Zak Welsh played a leading role in the transaction, which also included a multi-disciplinary group of ArentFox Schiff attorneys, including partners Richard Gale, Steve Cohen, Jeff Tate, Samantha Overly Patel, and Mamta Shah, and associate Eric Sanchez, among others. The landmark transaction valued the Los Angeles Lakers at $10 billion, which is the highest control-sale in the history of US team sports, eclipsing the previous records for the control-sale of the Boston Celtics ($6.1 billion) earlier in 2025 and the Washington Commanders ($6.05 billion) in 2023. Following the sale, Jeanie Buss will remain Governor of the Lakers and continue to oversee day-to-day team operations for the foreseeable future. This transaction follows in the footsteps of a number of large, notable transactions for which Brand and the ArentFox Schiff team has represented the Lakers over the last two decades, including the long-term extension of the team’s lease for Crypto.com Arena with Anschutz Entertainment Group, Inc., the naming rights transaction for the team’s training facility with UCLA Health, the team’s media rights agreement with Time Warner Cable, Inc., and the 2021 sale by Phillip Anschutz of a minority interest in the Lakers to Mark Walter and Todd Boehly.
ArentFox Schiff Advises Lakers and Buss Family on Sale of a Majority Ownership Interest
