The Los Angeles Lakers are undergoing a historic change with reports indicating that the Buss family will be selling a majority ownership stake in the organization to Mark Walter.
Dr. Jerry Buss purchased the Lakers in 1979 and the franchise won 11 championships under his family’s watch, building the biggest global brand in sports. That is reflected by the sale to Walter being for a $10 billion valuation, which is the highest ever for a sports franchise. Lakers Governor Jeanie Buss is expected to retain her position in the organization as part of the agreement.
Walter, who also owns the L.A. Dodgers, first purchased roughly 26% of the Lakers after agreeing to a deal with Philip Anschutz in 2021 for 1.35 billion, or a $5 billion valuation. With that agreement, he had the right of first refusal if the Buss family ever wanted to sell more shares.
Walter, 65, is the CEO of the global investment and advisory financial services firm Guggenheim Partners, and CEO and founder of holding company TWG Global. He grew up in Cedar Rapids, Iowa and attended Creighton University before getting his doctorate at Northwestern University. According to Forbes, his net worth is $6.1 billion, although reports have varied.
TWG Global is American multinational conglomerate holding company created by Walter as an investment vehicle and holdings company for his various investments in multiple industries. TWG is invested in industries that include financial services, insurance, artificial intelligence, technology, sports and entertainment, and merchant banking with reports of more than $340 billion in assets under management.
What sports teams Mark Walter owns
In addition to the Lakers, Mark Walter also is the primary owner of the Los Angeles Dodgers, Los Angeles Sparks, auto racing organization Andretti Global, which operates the Cadillac Formula 1 team, and the Professional Women’s Hockey League (PWHL). He also owns 12.7% of BlueCo, a holding company that controls Premier League club Chelsea and Ligue 1 club RC Strasbourg.
Walter’s investment group of Guggenheim Baseball Management, which includes Lakers legend Magic Johnson, purchased the Dodgers in 2012 for $2.2 billion. Under their watch, the Dodgers have won 11 division champions, reached the postseason in 12 straight years and won two World Series championships.
Walter has built the Dodgers into a juggernaut, not only outspending teams, but investing in the core of the organization both on and off the field to ensure their success is sustainable.
Other members of the Dodgers’ ownership group include Todd Boehly, Peter Guber, Stan Kasten, Bobby Patton, Billie Jean King, Ilana Kloss, Alan Smolinisky, and Robert L. Plummer.
Walter and Johnson led the ownership group that purchased the Sparks in 2014, and the team won the championship in 2016 and returned to the WNBA Finals in 2017.
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