In a groundbreaking move that has sent shockwaves through the sports world, billionaire Mark Walter has agreed to purchase a majority stake in the iconic Los Angeles Lakers for a record-breaking $10 billion. This monumental transaction not only marks the end of the Buss family’s 46-year ownership era but also sets a new benchmark for sports franchise valuations in American professional sports.
The Deal That Changed Everything
The acquisition represents the culmination of a strategic investment Walter made in 2021, when he first entered the Lakers ownership group by purchasing Phil Anschutz’s 26% stake in the team. What made this initial investment particularly shrewd was the inclusion of a right of first refusal clause, positioning Walter as the frontrunner should the Buss family ever decide to sell their controlling 66% stake.
This $10 billion valuation shatters previous records in American sports, significantly exceeding the $6.1 billion price tag for the Boston Celtics in March 2025, when they were acquired by a group led by Bill Chisholm. The deal also surpasses other major sports transactions, including the $6.05 billion sale of the NFL’s Washington Commanders to Josh Harris, co-founder of Apollo Management.
BREAKING: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN. Jeanie Buss will continue to serve in her role as Governor after the sale. pic.twitter.com/1Da6LDD7TJ
— Shams Charania (@ShamsCharania) June 18, 2025
The Buss Family Legacy
The Buss family’s journey with the Lakers began in 1979 when they purchased the franchise for $67.5 million – a stark contrast to today’s $10 billion valuation that represents nearly a 150-fold increase over 46 years. Under their stewardship, the Lakers became synonymous with excellence, capturing 17 NBA championships and establishing themselves as the second-most successful franchise in league history, trailing only the Boston Celtics.
Jerry Buss, who passed away in 2013, was instrumental in transforming the Lakers into a global brand and entertainment powerhouse. His daughter, Jeanie Buss, has continued this legacy since taking the helm. In an interesting twist, despite selling the majority stake, Jeanie Buss will continue to serve as the Lakers’ governor and oversee day-to-day operations for the foreseeable future. The Buss family will also retain a minority stake of just over 15% following the sale, ensuring their continued involvement with the franchise they helped build into a dynasty.
Who is Mark Walter?
Mark Walter’s rise to becoming one of America’s most influential sports owners is a testament to his business acumen and strategic vision. The 65-year-old billionaire’s net worth showcases significant variation across different financial publications, highlighting the complexity of valuing private wealth.
Understanding Mark Walter’s Wealth
According to the Bloomberg Billionaires Index, Walter’s net worth stands at an impressive $12.4 billion as of recent estimates, positioning him among America’s wealthiest individuals. However, Forbes reports a more conservative figure of $6.1 billion. This substantial difference of over $6 billion illustrates the challenges in accurately assessing the wealth of private equity and investment firm leaders, whose assets are often tied up in complex financial structures and privately-held companies.
The primary source of Walter’s wealth stems from his role as CEO of Guggenheim Partners LLC, a financial services powerhouse that he co-founded in the late 1990s. The firm, which manages over $300 billion in assets, was created through a strategic merger of Walter’s Chicago-based Liberty Hampshire with the Guggenheim family office. This move transformed what began as a regional investment firm into a global financial services giant encompassing investment banking, asset management, and insurance services.
Walter’s wealth-building strategy extends far beyond his primary business. His personal investment portfolio demonstrates a keen eye for emerging trends and growth opportunities. Notable stakes include positions in Beyond Meat, the plant-based protein company that has revolutionized the food industry, and Carvana, the online used car retailer that has disrupted traditional automotive sales models. These investments showcase Walter’s ability to identify and capitalize on transformative business models across diverse industries.
The Guggenheim Empire
Guggenheim Partners’ success under Walter’s leadership has been built on a foundation of diversified financial services. The firm operates across multiple sectors including:
Investment Management: Overseeing billions in assets for institutional clients, pension funds, and high-net-worth individuals.
Investment Banking: Providing advisory services for mergers, acquisitions, and capital raising activities.
Insurance Services: Through various subsidiaries, offering life insurance and annuity products.
This diversification has allowed Walter to build wealth that’s less susceptible to market volatility in any single sector, contributing to his substantial net worth growth over the past two decades.
The $10 Billion Investment: Putting Walter’s Wealth in Perspective
Walter’s $10 billion acquisition of the Lakers represents a significant portion of his total wealth, regardless of which valuation metric is used. If we consider the Bloomberg estimate of $12.4 billion, this purchase represents approximately 80% of his net worth – a massive commitment that demonstrates his confidence in the Lakers’ long-term value and growth potential.
Even using Forbes’ more conservative $6.1 billion estimate, the Lakers purchase would exceed his reported net worth, suggesting that Walter is likely leveraging additional financial resources, partnerships, or financing structures to complete this historic acquisition. This approach is common among ultra-wealthy individuals who can access capital markets at favorable rates due to their substantial asset bases and proven track records.
Wealth Comparison in Sports Ownership
Walter’s net worth places him among the upper echelon of sports team owners globally. For context:
- Steve Ballmer (LA Clippers): $123 billion
- Francois Pinault (Rennes FC): $33 billion
- Daniel Gilbert (Cleveland Cavaliers): $20 billion
- Mark Cuban (Dallas Mavericks): $5.4 billion
While Walter may not be the wealthiest NBA owner, his $12.4 billion net worth (per Bloomberg) provides him with substantial resources to invest in team operations, player acquisitions, and facility improvements. More importantly, his wealth is actively managed through Guggenheim Partners, potentially generating consistent returns to fund ongoing Lakers operations.
Regulatory Scrutiny and Resilience
Walter’s business acumen was tested during a 2019 SEC investigation into controversial real estate deals connected to his business activities. The investigation concluded without penalties, demonstrating both the legitimacy of his business practices and his ability to navigate complex regulatory environments. This clean resolution further solidified his reputation in the financial services industry and maintained investor confidence in his various ventures.
Walter’s business philosophy extends far beyond traditional finance, as evidenced by his diverse portfolio and strategic investments in sports, entertainment, and emerging technologies. His approach combines the analytical rigor of institutional finance with the vision of an entrepreneur, allowing him to identify opportunities that others might overlook.
A Sports Empire in the Making
Walter’s acquisition of the Lakers is just the latest addition to an impressive sports portfolio that spans multiple leagues and continents. His company, TWG Global, serves as the holding entity for his various sports investments, creating a vertically integrated sports entertainment empire.
The Los Angeles Dodgers Success Story
Walter’s most notable sports ownership success has been with the Los Angeles Dodgers, which he has controlled since 2012. Along with partners including Lakers legend Magic Johnson and longtime sports executive Stan Kasten, Walter’s group acquired the MLB franchise from Frank McCourt for $2.15 billion – then an MLB record. Under his ownership, the Dodgers have transformed into one of baseball’s premier organizations, capturing World Series titles in 2020 and 2024 while maintaining consistent playoff appearances since 2013.
The Dodgers’ success under Walter’s stewardship provides a blueprint for what Lakers fans might expect. His commitment to excellence, substantial financial resources, and long-term vision have created a winning culture that extends beyond just player acquisitions to encompass every aspect of the organization.
Expanding Across Sports
Walter’s sports interests extend well beyond baseball and basketball. In the WNBA, he has owned a stake in the Los Angeles Sparks since 2014, with the team winning the league championship in 2016. His involvement in women’s sports demonstrates a commitment to growing and supporting athletics across all levels.
In international soccer, Walter partnered with Todd Boehly to purchase Chelsea F.C. from Russian oligarch Roman Abramovich in 2022. While Boehly leads the BlueCo consortium, Walter’s minority stake in one of the Premier League’s most prestigious clubs adds another dimension to his global sports portfolio.
Looking toward the future, Walter’s TWG Global owns the incoming Cadillac Formula 1 team, which will debut on the grid next year, marking his entry into motorsports. Additionally, through the Mark Walter Group, he owns the Professional Women’s Hockey League, which launched in 2023-24, further demonstrating his commitment to expanding professional women’s sports.
The Strategic Partnership with Todd Boehly
Throughout many of his sports ventures, Walter has partnered with Todd Boehly, CEO of holding company Eldridge Industries. Their collaboration began with the Lakers in 2021, when both acquired stakes in the franchise, and extended to their joint purchase of Chelsea F.C. This partnership combines Walter’s financial expertise with Boehly’s entertainment and sports industry knowledge, creating a formidable ownership duo.
Magic Johnson’s Endorsement
Perhaps no endorsement carries more weight with Lakers fans than that of Magic Johnson, the legendary point guard who helped define the franchise’s “Showtime” era. Johnson, who is also Walter’s business partner in the Dodgers ownership group, expressed unbridled enthusiasm about the acquisition.
“Laker fans should be ecstatic,” Johnson wrote on social media. “A few things I can tell you about Mark — he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win!”
Johnson’s endorsement is particularly significant given his dual perspective as both a Lakers legend and Walter’s business partner. His insight into Walter’s character and commitment to winning provides Lakers fans with confidence that their new majority owner will maintain the franchise’s championship standards.
Implications for the Lakers’ Future
Walter’s acquisition signals a new era for the Lakers, one that promises significant investment in all aspects of the organization. His track record with the Dodgers suggests that Lakers fans can expect:
Enhanced Resources: Walter’s substantial wealth and proven willingness to invest in winning provide the Lakers with financial flexibility to compete for top talent and maintain world-class facilities.
Long-term Vision: Unlike owners focused on short-term profits, Walter’s approach emphasizes building sustainable success through strategic investments in player development, coaching, and organizational infrastructure.
Continuity with Change: By allowing Jeanie Buss to continue as governor, Walter ensures operational continuity while bringing fresh perspectives and resources to the organization.
Setting New Standards in Sports Valuations
The $10 billion price tag for the Lakers reflects several factors that make the franchise uniquely valuable:
Global Brand Recognition: The Lakers transcend basketball, representing a lifestyle and entertainment brand with worldwide appeal.
Market Position: Los Angeles represents one of the world’s largest and most affluent sports markets, providing multiple revenue streams beyond traditional ticket sales.
Historical Success: With 17 championships and a roster of legendary players, the Lakers possess an unmatched legacy that drives fan loyalty and commercial appeal.
Future Potential: The franchise’s young core, combined with Walter’s resources and commitment, positions the Lakers for continued success both on and off the court.
A New Chapter Begins
Mark Walter’s acquisition of the Los Angeles Lakers represents more than just a change in ownership – it marks the beginning of a new chapter in one of sports’ most storied franchises. With his proven track record of success, substantial resources, and commitment to excellence, Walter brings the potential for the Lakers to reclaim their position as the NBA’s premier organization.
For Lakers fans, this transition offers hope and excitement. While the Buss family’s legacy will forever be intertwined with the franchise’s history, Walter’s arrival promises the resources and vision necessary to compete at the highest level in an increasingly competitive NBA landscape.
As the dust settles on this historic transaction, one thing remains clear: the Los Angeles Lakers, under Mark Walter’s stewardship, are positioned to write new chapters in their legendary story, with the goal of adding to their impressive championship collection and maintaining their status as one of professional sports’ most iconic franchises.
The $10 billion investment represents not just a purchase, but a commitment to excellence that Lakers fans have come to expect and deserve. With Mark Walter at the helm, the purple and gold are ready to embark on their next championship journey.
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