Meet Mark Walter: Billionaire investor poised to take control of the iconic LA Lakers sold for $10 billion

Time of India

12 hours ago

Billionaire investor
Mark Walter
is set to become the new majority owner of the Los Angeles Lakers in a record-breaking $10 billion deal. This is the highest valuation ever for a sports team. Even after the sale, Jeanie Buss will continue as the team's governor, keeping some leadership with the Buss family.
Mark Walter is already the main owner of the Los Angeles Dodgers baseball team. He will get the controlling ownership of the Lakers by buying most shares from the Buss family. The Lakers' $10 billion valuation is the biggest in NBA and professional sports history.
This huge value partly comes after the Lakers made a big trade for star player Luka Doncic recently. Walter was born in Cedar Rapids, Iowa. He studied at Creighton University and Northwestern. In 2000, Walter co-founded Guggenheim Partners, a private financial services company, as per the report by The Mirror.
Guggenheim Partners now manages over $325 billion in assets. Walter is CEO of Guggenheim Partners. Guggenheim works in many fields like asset management, insurance, merchant banking, and more.
Investment
Walter's investment empire is controlled through TWG Global, a company he co-chairs with Thomas Tull. TWG Global invests in sports, technology, artificial intelligence, finance, insurance, and real estate. TWG recently committed $2.5 billion with Abu Dhabi's Mubadala Capital for a $40 billion AI investment fund, according to the report by The Mirror.
Live Events
Walter already owns 20% of the Lakers through TWG Global. He is also the owner of the WNBA's Los Angeles Sparks. Walter holds a 12.7% stake in Chelsea Football Club in England's Premier League. He owns part of the Professional Women's Hockey League.
Walter has invested in motorsports, including the Cadillac Formula 1 team with Andretti Global and Spire Motorsports. Spire Motorsports plans to start racing in 2026. His estimated net worth is between $6 billion and $12 billion, depending on how his companies are valued, as reported by The Mirror.
Sports and tech
Walter has invested in insurance firms such as Group 1001 and Delaware Life. He also holds shares in public companies like Carvana. With this Lakers deal, he will shift from being a minority owner to becoming the majority owner. This change could speed up big decisions and changes in the Lakers franchise.
Despite the change in ownership, Jeanie Buss will continue to be the team governor. NBA legend Magic Johnson, who owns 2.3% of the Dodgers, publicly supports Walter's new role. Magic Johnson said on social media, "Mark Walter is the best choice and will be the best caretaker of the Laker brand," according to The Mirror.
He praised Walter for winning 2 World Series titles and 11 division titles with the Dodgers in 12 years. Magic said Lakers fans should be very happy because Walter is focused on winning and doing things the right way. He also said Jeanie Buss sold to Walter because they both are competitive, caring, and prefer to work quietly behind the scenes.
Magic Johnson said he is very excited for Lakers fans worldwide. This deal is not just about money; it shows Walter wants to reshape global sports. Walter's record shows he is willing to invest big money, innovate, and build top teams in many industries. The Lakers' future under Walter's majority ownership will likely follow his bold and ambitious style, as stated by The Mirror.
FAQs
Q1. Who is buying the
LA Lakers
?
Billionaire Mark Walter is buying the majority stake in the LA Lakers at a $10 billion valuation.
Q2. Will Jeanie Buss still run the Lakers?
Yes, Jeanie Buss will remain the team governor even after Mark Walter becomes majority owner.
Economic Times WhatsApp channel
)