Mark Walter, the billionaire CEO of Guggenheim Partners and Los Angeles Dodgers owner, has made sports history by agreeing to purchase majority ownership of the Los Angeles Lakers for a record-breaking $10 billion valuation.
Breaking News: Lakers Ownership Changes Hands
In a stunning development that has sent shockwaves through the sports world, the Buss family is entering into an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter for a franchise valuation of approximately $10 billion. This transaction represents the highest valuation ever paid for a U.S. professional sports franchise, cementing Walter’s position as one of the most powerful figures in American sports ownership.
Who is Mark Walter?
Mark Walter serves as CEO and chairman of diversified holding company TWG Global and is the chief executive of financial services giant Guggenheim Partners, which manages over $325 billion in assets. Known for his preference to remain behind the scenes, Walter has built an impressive sports empire that spans multiple leagues and continents.
His sports portfolio includes ownership stakes in the Los Angeles Dodgers, Los Angeles Sparks women’s basketball team, Premier League club Chelsea, and the Professional Women’s Hockey League. Through TWG Motorsports, Walter also owns several auto racing teams, including Cadillac Formula 1.
The Lakers Deal Details
The historic agreement ensures continuity for Lakers fans, as Jeanie Buss will remain the Lakers’ governor and continue to run the team for “at least a number of years”. The Buss family will retain a minority stake of just over 15% in the franchise they’ve owned since 1979.
Walter’s connection to the Lakers isn’t entirely new. He became a stakeholder in 2021 when he purchased Phil Anschutz’s 26% share of the team, which also granted him right of first refusal on any majority ownership sale.
Industry Impact and Reactions
The sale marks the end of the Buss family’s 46-year ownership reign, the longest current ownership tenure in the NBA. Since Jerry Buss purchased the franchise for $67.5 million in 1979, the Lakers have captured 11 championships, making them the most successful NBA franchise of the modern era.
Magic Johnson, Walter’s business partner and Lakers legend, enthusiastically endorsed the move on social media, stating that “Mark Walter is the best choice and will be the best caretaker of the Laker brand”. Johnson pointed to Walter’s success with the Dodgers, noting two World Series titles and 11 NL West divisional titles in 12 years under his ownership.
Walter’s Proven Track Record
Walter’s ownership philosophy centers on excellence and winning. His stewardship of the Los Angeles Dodgers has transformed the franchise into a perennial powerhouse, combining substantial investment in player talent with state-of-the-art facilities and fan experience improvements.
This approach has earned praise from industry insiders, with Dodgers manager Dave Roberts calling the Lakers sale “a very exciting day” and emphasizing Walter’s competitive nature and commitment to championship-caliber teams.
What This Means for Lakers Fans
The transition promises stability and ambition for one of basketball’s most storied franchises. Walter’s track record suggests he’ll invest heavily in player acquisition, facilities, and organizational infrastructure while maintaining the Lakers’ championship culture.
With the franchise now valued at $10 billion, the Lakers join elite company among global sports properties, reflecting both their historical significance and future potential under Walter’s ownership.
Conclusion
Mark Walter’s acquisition of the Los Angeles Lakers represents more than just a change in ownership—it signals a new chapter for both the franchise and professional sports valuation. As Walter adds another crown jewel to his sports empire, Lakers fans can expect the same commitment to excellence that has defined his tenure with the Dodgers.
The sports world will be watching closely as this billionaire businessman works to add NBA championships to his already impressive collection of titles across multiple sports and leagues.