Billionaire Mark Walter Completes $10B Lakers Ownership Purchase

Mark Walter, a billionaire businessman and CEO of TWG Global, has agreed to purchase a controlling stake in the Los Angeles Lakers from the Buss family in a historic $10 billion deal, marking the highest valuation for a U.S. professional sports franchise. Walter, who already owns 26-27% of the Lakers, is expanding his sports portfolio, which includes ownership interests in the Los Angeles Dodgers, Chelsea FC, Los Angeles Sparks, the Billie Jean King Cup, the Cadillac Formula 1 team, and the Professional Women’s Hockey League. Despite the sale, Jeanie Buss will remain the franchise governor, ensuring continued family involvement in the Lakers organization. The acquisition was completed quietly, with no leaks prior to the agreement, partly because Walter had the first right of refusal to buy the Lakers if the Buss family decided to sell. Walter's background is in finance, as co-founder and leader of Guggenheim Partners, and he is also known for his philanthropic efforts, including funding wildfire recovery initiatives. This purchase adds to Walter's growing influence in sports, as his ownership group has seen success with the Dodgers, winning World Series titles in 2020 and 2024.