Mark Walter Acquires Majority Stake in the Los Angeles Lakers
LOS ANGELES--(BUSINESS WIRE)--Businessman and philanthropist Mark Walter has reached an agreement with the Buss Family Trust to acquire a majority stake in the NBA's Los Angeles Lakers. Jeanie Buss will remain governor of the franchise and continue to oversee all team operations on a day-to-day basis for the foreseeable future.
'The Buss family is deeply honored to have looked after this incredible organization for almost half a century,' said Buss. 'From the day our father purchased the Lakers, we have been determined to deliver what the City of Los Angeles deserves and demands: a team that is committed to winning – relentlessly – and to doing so with passion and with style.'
Buss continued, 'I have gotten to know Mark very well over time and been delighted to learn how he shares those same values. For the last four years, Mark has been an excellent partner to us, and we are thrilled to keep working with him to continue the Lakers' extraordinary legacy.'
Walter has been a minority owner of the Lakers since 2021. He is Chairman and CEO of TWG Global, a diversified holding company he leads with Co-Chairman Thomas Tull, and has ownership interests in several professional sports teams and organizations, including the Los Angeles Dodgers, the WNBA's Los Angeles Sparks, the Billie Jean King Cup, the new Cadillac Formula 1 Team, and the Professional Women's Hockey League (PWHL).
'The Lakers have long been one of the most iconic franchises in sports,' said Walter. 'Since Dr. Jerry Buss first purchased the team in 1979, they have truly set the standard for basketball in one era after another, which is why you can find people anywhere in the world wearing Lakers shirts and jerseys.'
Walter continued, 'I admire what he, Jeanie and the Buss family have built, and I know how much this special organization matters to Southern Californians and to sports fans everywhere. I also have tremendous respect for Jeanie's continued commitment to maintaining the Lakers' long-term vision and elite status, and I'm excited to work with her on the next era.'
In the 46 years the Buss family has owned the Lakers, the team has won 11 NBA Championships, far more than any other NBA team over that span. Their rosters during this time have featured world-famous talents such as Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, Shaquille O'Neal, LeBron James and Luka Doncic, in addition to noted coaches and executives such as Pat Riley, Phil Jackson, Jerry West and Bill Sharman.
The Lakers opened the state-of-the-art UCLA Health Training Center in 2017 in El Segundo, CA. In 2020, seven years after Dr. Buss died, Jeanie Buss became the first female controlling owner to lead a team to an NBA Championship.
The sale is expected to close in the third or fourth quarter of 2025, subject to customary closing conditions including obtaining NBA approval.
Guggenheim Securities is serving as financial advisor to Walter, with Davis Polk & Wardwell LLP acting as legal advisor. ArentFox Schiff LLP is serving as legal advisor to the Los Angeles Lakers and Buss.
About Mark Walter
Mark Walter is Chairman and CEO of TWG Global, a diversified holding company that spans the worlds of financial services; insurance; AI and related technologies; sports, media and entertainment; lending and corporate finance; and merchant banking. He and his partners commit a significant portion of profits to promoting stronger communities, equitable opportunity and access, education, and conservation. Through the Walter Family Foundation, he champions the protection of wildlife and the preservation of natural habitats around the world. Walter serves as a trustee of Creighton University, Northwestern University, the Explorers Club, the Field Museum, and the Solomon R. Guggenheim Foundation.
About the Los Angeles Lakers
The Lakers will enter their 78th season of competition in 2025-2026. The team has reached the postseason 65 times in franchise history including 32 trips to the NBA finals and 17 championships. The Lakers were founded in Minneapolis in 1947, moved to Los Angeles ahead of the 1960-61 season, and were bought by Dr. Jerry Buss in 1979. Today, the Lakers are governed by Jeanie Buss, who, in 2020, became the first female controlling owner of an NBA Championship team. The Lakers play their home games at Crypto.com Arena in downtown Los Angeles and practice at the UCLA Health Training Center in El Segundo.
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