Who is Mark Walter? Here’s everything you need to know about Los Angeles Lakers’ new owner | NBA News
The Los Angeles Lakers have entered a new era. After more than four decades under the stewardship of the Buss family, majority ownership of one of the NBA’s most iconic franchises is being handed to billionaire businessman Mark Walter. The landmark deal, reportedly worth $10 billion, is now the largest sale of a U.S. sports franchise ever. While Jeanie Buss will remain governor and the family will retain a minority stake, the control of the franchise shifts to a name many fans are now eager to learn more about. Now, here’s what you need to know about the Lakers’ new owner, Mark Walter.
Who is Mark Walter? A quiet powerhouse behind major sports teams
Mark Walter is one of the most influential owners of several sports franchises, though he rarely seeks the spotlight. The 65-year-old CEO of TWG Global and founder of Guggenheim Capital has long been active in professional sports. He already owned 26% of the Lakers before the sale and, through a right of first refusal obtained in 2021 when he bought Phil Anschutz’s stake, was in a prime position to secure the franchise when the Buss family decided to sell.This transition was anticipated by many. His purchase brings stability backed by a proven track record, most notably with the Los Angeles Dodgers.Under Walter’s leadership, the Dodgers have been a model of consistency and success. Since Guggenheim Baseball Management acquired the team in 2012 for a then-record $2.15 billion, the Dodgers have made the playoffs every year, winning the World Series in 2020 and again in 2024. Superstar additions like Shohei Ohtani have only added to his winning blueprint.
Mark Walter is a billionaire with a diverse portfolio
Walter’s reach goes far beyond Los Angeles. He holds ownership stakes in Chelsea FC and RC Strasbourg through BlueCo, and in motorsports via Cadillac F1, Andretti Global (IndyCar), and Wayne Taylor Racing. He also owns a sixth of the Los Angeles Sparks and established the Professional Women’s Hockey League, whose championship trophy is named the Walter Cup.Born in Cedar Rapids, Iowa, Walter pursued his education in the Midwest, earning a business degree from Creighton University and a law degree from Northwestern. His wealth was built through a series of financial ventures, culminating in Guggenheim Partners, which manages over $340 billion in assets.Forbes currently estimates his net worth at $6.1 billion, though Bloomberg places it significantly higher at $12.5 billion.
Mark Walter is also a philanthropist
Walter has left a sizable imprint on the community, donating $50 million to the Los Angeles Dodgers Foundation and another $5.5 million to the Women’s Sports Foundation.Also Read: Also Read: Magic Johnson shared his honest thoughts on Jeanie Buss selling Los Angeles Lakers for a whopping $10 billion: “Largest sports franchise sale in history”
