Last month, the NBA changed forever. Businessman Mark Walter agreed to acquire a 66 percent majority stake in the Los Angeles Lakers for a record-breaking valuation of $10 billion. The historic transaction ends 46 years of uninterrupted Buss family control, while preserving Jeanie Buss’s role as team governor for the time being.
From finance titan to NBA power broker
Mark Walter, 65, is no stranger to high-profile investments. As CEO of Guggenheim Partners, an asset management firm overseeing over $300 billion in assets, he has built a reputation for strategic, enduring ownership in major sports franchises. In 2012, Walter spearheaded the $2.15 billion acquisition of the Los Angeles Dodgers, leading the baseball club to two World Series titles and 11 division crowns in the last 12 seasons.
He’s no stranger to the Lakers. He began his involvement in 2021, when he acquired a 26 percent share and secured a right of first refusal on any future sale of the majority stake. Over the past four years, Walter has established himself as a collaborative partner to Jeanie Buss. Sources indicate that Walter’s vision for the Lakers emphasizes stability, leveraging proven basketball leadership while investing in analytics. This approach is similar to what slots online platforms did during their first few years: trying to balance the innovation they brought to the market and the experience achieved in the land-based era.
Walter’s portfolio extends beyond baseball and basketball. Through his holding company TWG Global, he owns stakes in Chelsea FC, the Los Angeles Sparks (WNBA), the Cadillac Formula 1 Team and the Professional Women’s Hockey League.
A record-breaking acquisition
The $10 billion price tag makes the Lakers the most expensive sports franchise ever sold in U.S. history, surpassing recent valuations of other NBA and NFL teams. Under the terms of the deal, the Buss family retains a 15 percent minority stake, and Jeanie maintains her role as governor and member of the NBA Board of Governors, at least, until the 2029-30 season.
Magic Johnson, Lakers legend and Walter’s business associate, publicly endorsed the sale on social media, praising Walter’s “drive for winning, excellence, and doing everything the right way,”, and predicted that he will make the Lakers a contender for the NBA title, as he did with the Dodgers. Dave Robert, Dodgers manager, echoed this sentiment, expressing confidence that Walter’s competitive spirit will translate into championship aspirations for the Lakers each season.
For Lakers fans, the deal marks a new era. After 11 championships under the Buss family’s stewardship, expectations remain sky-high, as always have been with the Lakers. Walter’s entrance brings fresh capital, global marketing power, and a track record of success that many hope will return the Lakers to NBA supremacy.
The agreement, which is set to be finalized by December 2025, has put the eyes of the basketball world again on the Lakers. Now, the question is: Will Walter’s low-profile, data-driven approach create a new dynasty in purple and gold? Only time will tell, but one thing is certain: the Buss era is about to end after great success.
