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The iconic Los Angeles Lakers are entering a new era. The Buss family, longtime custodians of the NBA franchise, has agreed to sell majority ownership of the team in what’s now the largest deal in U.S. pro sports history — valued at a staggering $10 billion.
At the center of this historic transaction is Mark Walter, a seasoned sports investor and business leader. While the Buss family will retain a minority 15% share for now, control of the team shifts for the first time since 1979. Jeanie Buss will continue to serve as the Lakers governor, preserving the family’s active role in the franchise’s direction.
Mark Walter: The Man Behind the Deal
So, who is Mark Walter, the new majority owner of the Lakers?
A Chicago native and low-profile billionaire, Walter is the CEO and chairman of TWG Global, a diversified holding company. But sports fans may recognize his name from his leadership role with the Los Angeles Dodgers, where he has served as controlling owner since 2012. Under his guidance, the Dodgers have become one of Major League Baseball’s most dominant franchises, clinching World Series titles in 2020 and 2024.
Walter also heads Guggenheim Partners, a global investment and advisory firm. Alongside him in the Dodgers' ownership group are sports industry icons, including Magic Johnson, Stan Kasten, and frequent business partner Todd Boehly.
Lakers Ownership Roots Go Back to 2021
Mark Walter’s journey with the Lakers didn’t begin with this sale. In 2021, he and Boehly purchased a 27% minority stake in the team from AEG. This strategic move gave Walter the right of first refusal should the majority share ever become available — which it now has.
Boehly, who sits on the Lakers' Board of Directors, has represented both his and Walter’s interests in the team. Their joint involvement has built trust and familiarity with the Lakers organization, setting the stage for this historic acquisition.
Magic Johnson Endorses Walter’s Vision
Magic Johnson, who played a crucial role in bringing Walter into the Dodgers’ ownership circle, didn’t hold back his praise.
“Laker fans should be ecstatic,” Johnson shared on social media. “Mark is driven by winning, excellence, and doing everything the right way. He will put in the resources needed to win.”
He also drew a parallel between Walter and Jeanie Buss, describing both as intelligent, generous, and competitive leaders who prefer to operate behind the scenes. According to Johnson, the pair shares a real friendship and a commitment to making a positive impact in Los Angeles.
A Global Footprint in Sports Ownership
Walter's sports portfolio isn’t limited to Los Angeles. His influence stretches across multiple leagues and continents.
- In 2022, Walter partnered with Boehly again to purchase Chelsea F.C., one of the top clubs in the English Premier League. While Boehly leads the group, Walter holds a key minority stake.
- He’s also a stakeholder in the Los Angeles Sparks of the WNBA. Under his partial ownership, the team clinched a championship in 2016.
- Walter's firm, TWG Global, owns the incoming Cadillac Formula 1 team, set to hit the track in 2026.
- Additionally, the Mark Walter Group owns the Professional Women’s Hockey League (PWHL), which launched during the 2023-24 season.
What This Means for the Lakers' Future
The entrance of Mark Walter as Lakers owner signals a fresh chapter. Known for his strategic investments and success-driven approach, Walter brings a proven track record of revitalizing sports franchises and delivering championships.
With Jeanie Buss still involved and Walter now steering the ship, fans can expect a balance of legacy and innovation. From baseball to basketball, soccer to hockey, Walter’s growing empire is shaping the future of sports — and now, the Lakers are officially part of that vision.
