Mark Walter Agrees to Purchase Majority Stake in Los Angeles Lakers

Mark Walter, CEO of TWG Global, has agreed to acquire a majority stake in the Los Angeles Lakers from the Buss family for approximately $10 billion, marking the largest sale of a U.S. sports franchise to date. Jeanie Buss will remain as the team's governor and retain at least 15% ownership to comply with NBA regulations. Walter, who has held a 27% stake in the Lakers since 2021, expands his sports portfolio, which includes ownership interests in the Los Angeles Dodgers, Chelsea FC, the Los Angeles Sparks, the Cadillac Formula 1 racing team, the Billie Jean King Cup, and the Professional Women's Hockey League. Walter co-founded Guggenheim Partners, a financial services firm managing over $325 billion in assets, and serves as its CEO. He also leads TWG Global, a multinational holding company. Under Walter's leadership, the Dodgers have achieved consistent success, winning the National League West division multiple times since 2013 and securing World Series titles in 2020 and 2024. The Buss family has owned the Lakers since 1979, during which the team secured 11 NBA championships, including their most recent victory in 2020 led by LeBron James. The sale is pending approval by the NBA's Board of Governors.