Meet Mark Walter, the new owner of the Los Angeles Lakers
The Los Angeles franchise has been in the news in recent hours for its historic sale for a record sum.
The Buss family has decided to relinquish majority ownership of the Los Angeles Lakers, bringing an end to an era dating back to 1979. The buyer is Mark Walter, CEO of investment firm TWG Global, who will acquire the majority stake in the team in a deal valued at approximately $10 billion, the highest amount ever paid for a professional sports franchise in the United States.
Although no longer the primary owners, the Buss family will retain just over 15% of the team's shares for a period, with Jeanie Buss continuing as the franchise's governor, a position she has held since her father Jerry Buss's passing in 2013.
Mark Walter is no stranger to the Los Angeles sports scene. He has been the principal owner of the Los Angeles Dodgers since 2012, leading the purchase of the team for $2.15 billion, then a record amount in the MLB. Notable figures such as Stan Kasten and Magic Johnson, a Lakers legend, joined him in that transaction. Under Walter's leadership, the Dodgers have become a consistent force, clinching World Series titles in 2020 and 2024 and maintaining postseason appearances since 2013.
Walter's involvement with the Lakers formally began in 2021 when he, along with partner Todd Boehly, acquired a 27% minority stake in the franchise. At that time, he was also granted a right of first refusal regarding majority ownership. Boehly joined the team's board, representing both his own interests and Walter's. Since then, his engagement in the team's affairs has been subtle yet continuous, solidifying the transition to the current acquisition.
Beyond the Lakers and Dodgers, Walter holds interests in multiple sports disciplines. He is a co-owner of Chelsea FC in the English Premier League and has investments in the WNBA through the Sparks, who claimed the championship in 2016 following his involvement. He also has stakes in Formula 1 with the Cadillac team, set to debut soon, and is behind the Professional Women's Hockey League, further establishing his presence in the global sports arena. With this new phase in the Lakers' ownership, Walter expands his footprint as one of the most significant sports investors at present.
This is an automatic translation. You can read the original news, Así es Mark Walter, el nuevo dueño de Los Angeles Lakers
