Billionaire Mark Walter is set to acquire the Los Angeles Lakers for an unprecedented $10 billion, ending the Buss family’s 46-year tenure as majority owners of the iconic NBA franchise. The deal marks the highest valuation ever for a professional basketball team, eclipsing previous records and redefining the landscape of American sports investments.
The Buss family, who bought the Lakers in 1979 for just $67.5 million, have overseen one of the most successful eras in NBA history, with the franchise capturing 17 championships, tied with the Boston Celtics for the most in league history. Jeanie Buss, who took over as controlling owner after her father Jerry Buss passed away in 2013, will reportedly continue in her leadership role even as ownership transitions to Walter. Walter, who acquired a minority stake in the team in 2021, had secured a right of first refusal in the event a controlling stake was ever offered for sale, a move that ultimately paved the way for this landmark acquisition.
The $10 billion valuation far surpasses previous NBA sales, including the recent $6.1 billion deal for the Boston Celtics by a group led by Bill Chisholm earlier this year. It also overtakes the $6.05 billion purchase of the NFL’s Washington Commanders by Josh Harris, and other recent high-value NBA transactions such as the $4 billion sale of the Phoenix Suns to Mat Ishbia, the Dallas Mavericks’ $3.5 billion deal with the Adelson family, and Michael Jordan’s $3 billion sale of the Charlotte Hornets. The Lakers sale sets a new benchmark not only in basketball but across all U.S. professional sports leagues.
What is Mark Walter’s Net worth?
Mark Walter, with a net worth estimated at $12.5 billion by the Bloomberg Billionaires Index, is the CEO of Guggenheim Partners LLC, a global financial services firm managing over $325 billion in assets. In the world of sports, he has steadily built a diverse and influential portfolio. He is the CEO of TWG Global, a holding company that owns several sports franchises across different leagues and continents. Walter is the principal owner and chairman of Major League Baseball’s Los Angeles Dodgers, a franchise he acquired in 2012 for $2.15 billion, then an MLB record. Under his leadership, the Dodgers have enjoyed sustained success, winning the NL West nearly every year since 2013 and capturing World Series titles in 2020 and 2024.
Walter has also been co-owner of the WNBA’s Los Angeles Sparks since 2014, sharing ownership with a group that includes Lakers legend Magic Johnson. His interests extend beyond American sports; he is a key member of the BlueCo consortium that acquired Premier League club Chelsea FC in 2022 following sanctions against previous owner Roman Abramovich. The acquisition of Chelsea placed Walter at the center of European football, alongside business partners Todd Boehly, Clearlake Capital, and Hansjörg Wyss.
Additionally, Walter is a driving force behind the Professional Women’s Hockey League (PWHL), launched in 2023. His contributions to the league were so substantial that the championship trophy was named the “Walter Cup” in honour of him and his wife, Kimbra. He also holds an ownership stake in the Cadillac Formula One team, which is preparing to enter the F1 grid in 2026 under the TWG Motorsports banner. His investment in women’s sports and emerging leagues has drawn praise for helping to shape a more inclusive and diverse sporting future.
The acquisition of the Lakers adds one of the most globally recognised brands in sports to Walter’s expanding empire. While operational continuity will be maintained under Jeanie Buss’s leadership, Walter’s strategic vision and resources are expected to usher in a new era for the franchise. The Lakers, long defined by their star power and championship pedigree, now enter a chapter shaped by one of the most ambitious sports investors of the modern era.
Born in Cedar Rapids, Iowa, Walter earned his undergraduate degree from Creighton University and a J.D. from Northwestern University. Beyond business, he is deeply involved in philanthropic efforts, including the Los Angeles Dodgers Foundation and LA Rises, a wildfire recovery initiative he co-founded with Magic Johnson and entertainment executive Casey Wasserman. His growing influence in sports, philanthropy, and global finance signals that the Lakers are poised for even greater transformation in the years ahead.