Charles Esther
The Los Angeles Lakers are being sold in a landmark $10 billion deal.
This transaction makes the iconic franchise the highest-valued sports team in US history.
The current owners, the Buss family, will sell their controlling interest to billionaire Mark Walter.
Walter already holds a minority stake in the Lakers, giving him a unique position in the franchise’s future.
Who Is Mark Walter? A Powerful Figure in Sports and Finance
Mark Walter is well-known for his leadership in finance, global sports investments, and philanthropy.
He co-founded Guggenheim Partners in the late 1990s, which now manages over $325 billion in assets.
Walter is also CEO of TWG Global, a private investment company with interests in finance, AI, sports, and entertainment.
A Major Player in Sports Ownership
Walter is chairman and controlling owner of the Los Angeles Dodgers baseball team.
Since acquiring the Dodgers in 2012 for $2.15 billion, the team has won World Series titles in 2020 and 2024.
His purchase of the Lakers in June 2025 for $10 billion is a record-breaking deal in US sports.
Walter also co-owns the Los Angeles Sparks of the WNBA and played a key role in founding the Professional Women’s Hockey League.
The league’s championship trophy, the Walter Cup, is named in honor of him and his wife.
He holds a stake in Chelsea FC through the BlueCo consortium and invests in the Cadillac Formula One team set to debut in 2026.
Philanthropic Contributions and Personal Background
Walter and his wife Kimbra support causes including social justice, wildlife conservation, and education.
He has donated millions through the Dodgers Foundation and the Women’s Sports Foundation.
Born in 1960 in Cedar Rapids, Iowa, Walter graduated from Creighton University and Northwestern University.
His net worth is estimated at $6.1 billion, ranking him among the world’s wealthiest individuals.
What the Lakers Sale Means for the Franchise
While Jeanie Buss will remain Lakers governor, this deal ends the Buss family’s 46-year control of the team.
Walter’s leadership at TWG Global includes a growing portfolio of professional sports franchises.
TWG also owns the Billie Jean King Cup tennis tournament and the Cadillac Formula One team.
Support from Lakers Legend Magic Johnson
Magic Johnson, a business partner of Walter, praised the sale as excellent news for Lakers fans.
Johnson highlighted Walter’s commitment to winning and excellence, noting their shared values.
He pointed to Walter’s success with the Dodgers as proof of his ability to build championship teams.
“Mark is the best choice and will be the best caretaker of the Laker brand,” Johnson wrote.
End of an Era, Start of a New Chapter
The Buss family’s sale marks the end of an era that began in 1979 with Jerry Buss’s purchase of the Lakers.
During the Buss era, the Lakers won 11 NBA championships and became a globally recognized sports powerhouse.
Highlights included the “Showtime” Lakers led by Magic Johnson and a three-peat from 2000 to 2002 with Kobe Bryant.
More recently, LeBron James led the Lakers to their 17th championship in 2020.
Walter’s acquisition follows his minority ownership stake, acquired in 2021, which gave him first refusal rights to buy the club.
This $10 billion deal surpasses previous US sports team sales, including the $6.1 billion Boston Celtics sale earlier this year.
