The Los Angeles Lakers, one of the most storied franchises in sports, are set to change hands in a historic, record-shattering transaction. Billionaire businessman Mark Walter has agreed to purchase the team from the Buss family in a deal valued at approximately $10 billion.
This monumental sale, first reported by ESPN’s Shams Charania, represents the largest acquisition of a professional sports franchise globally and easily sets a new benchmark for North American sports. It dwarfs previous records, surpassing even the $6.1 billion sale of the Boston Celtics earlier in 2025 and the $6.05 billion purchase of the Washington Commanders in 2023.
The $10 billion figure underscores the immense value and global appeal of the Lakers brand, especially notable as the sale reportedly does not include the Crypto.com Arena, the team’s home venue.
Who is Mark Walter?
Mark Walter, 65, is a prominent figure in the finance world with a reported net worth of $12.5 billion, according to the Bloomberg Billionaires’ index. He serves as the CEO of Guggenheim Partners, a financial services firm overseeing over $325 billion in assets, and also leads TWG Global, a multinational holding company.
While his financial acumen is well-established, Walter is far from new to the world of sports ownership and investment. The Lakers acquisition marks the latest high-profile addition to his extensive portfolio of sports interests.
A Proven Winner: Success with the Dodgers
Walter’s most significant sports ownership role prior to the Lakers has been as the primary owner and chairman of the Los Angeles Dodgers. His Guggenheim Baseball Management group acquired the MLB franchise in 2012 for $2.15 billion, setting an MLB record at the time.
Under Walter’s supervision, the Dodgers have experienced a sustained era of success. The team has dominated the National League West, winning the division title in all but one season since 2013, and has captured two World Series championships in recent years (2020 and 2024). This track record of building and sustaining winning organizations bodes well for the Lakers’ future.
Beyond Baseball: A Broad Sports Empire
Walter’s interests span across multiple sports and leagues:
Chelsea FC: He is a co-leader of the BlueCo consortium, alongside Todd Boehly, Clearlake Capital, and Hansjörg Wyss, which took control of the English football giant in 2022 following sanctions against the previous owner.
Los Angeles Sparks: Since 2014, he has co-led the ownership group for the WNBA’s Los Angeles Sparks, notably alongside Lakers legend and former co-owner Magic Johnson.
Professional Women’s Hockey League (PWHL): Walter was a key investor in the league’s creation in 2023. His significant backing is recognized by the naming of the championship trophy, the “Walter Cup,” after him and his wife, Kimbra.
Cadillac F1 Team: Through TWG Motorsports, Walter is a part-owner of this new Formula 1 racing franchise set to begin competing in 2026.
- Billie Jean Cup: His portfolio also includes a financial interest in the premier international team competition in women’s tennis.
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Adding the Lakers, a brand with global recognition and 17 NBA championships, significantly expands his footprint in the sports landscape.
Transition from the Buss Family: A Legacy Continues
The sale brings an end to the Buss family’s 46-year ownership of the Lakers, a legacy that began when Dr. Jerry Buss purchased the team for $67.5 million in 1979. Under their stewardship, the franchise achieved 11 NBA championships and became a cultural icon.
While selling the majority stake, Jeanie Buss, who took over as governor after her father’s passing, is expected to retain a minority share in the franchise and continue in her role as governor.
Lakers legend Magic Johnson, a long-time friend of Jeanie Buss and business partner of Mark Walter, expressed strong support for the transition. Johnson called Walter the “best choice” and “best caretaker” for the Lakers brand, citing his winning history with the Dodgers and his commitment to investing resources. Johnson noted the personal trust between Jeanie Buss and Walter, describing them both as competitive, philanthropic visionaries focused on excellence.
Background and Philanthropy
Originally from Cedar Rapids, Iowa, Walter holds degrees from Creighton University (undergrad) and Northwestern University (J.D.). Beyond his business and sports ventures, he is actively involved in philanthropic efforts. He supports organizations like the Los Angeles Dodgers Foundation and co-founded LA Rises, a forest fire recovery initiative, with Magic Johnson and entertainment executive Casey Wasserman.
The sale requires formal approval from the NBA league office, which is expected in the coming months. As the Lakers prepare to embark on a new era under Mark Walter’s majority ownership, the foundation laid by the Buss family and Walter’s proven track record of success in sports create anticipation for the future of the purple and gold.
