Mark Walter, a name already big in the business and sports world, is now making even bigger waves. He’s buying the Los Angeles Lakers for a staggering $10 billion. That’s right, $10 billion. The deal will mark the highest-ever valuation for an NBA franchise. It easily beats the recent record set by the Boston Celtics, which sold for $6.1 billion earlier this year.
This deal ends the Buss family’s 46-year control over the Lakers. They bought the team for just $67.5 million back in 1979. That’s one of the most profitable ownership runs in sports history. Under Jerry Buss and later his daughter Jeanie Buss, the Lakers picked up 17 NBA championships. Only the Boston Celtics have more.
Jeanie Buss Still In Charge
Though the Buss family is letting go of the majority stake, Jeanie Buss isn’t stepping away. She’ll continue to serve as the team’s governor. That was part of the agreement. Mark Walter, who already had a stake in the Lakers since 2021, got the first rights to buy more if the family ever wanted to sell. And now he’s making his move.
Mark Walter: More Than Just a Billionaire
Mark Walter isn’t new to the sports game. He’s worth $12.5 billion according to Bloomberg. He is the CEO of Guggenheim Partners, a global financial firm that manages over $325 billion in assets. That’s massive.
But Walter doesn’t stop there. Through his holding company TWG Global, he owns the LA Dodgers and the WNBA’s LA Sparks. He’s also behind the new Cadillac Formula One team, the Billie Jean King Cup, and a professional women’s hockey league.
That’s not all. He’s part of the group that owns English football giant Chelsea FC. His reach across sports is global and growing fast.
America’s Most Expensive Sports Sales
This Lakers sale tops a wild year for sports team purchases. The Washington Commanders were sold for $6.05 billion. The Phoenix Suns went for $4 billion. The Dallas Mavericks changed hands for $3.5 billion. Michael Jordan sold the Charlotte Hornets for $3 billion.
But nothing touches this Lakers deal. Walter is now not just buying a team. He’s buying into NBA history.
