In a groundbreaking move, the NBA is buzzing with news of Jeanie Buss, the Lakers’ controlling owner, reportedly selling the majority stake in the team to businessman Mark Walter, who also owns the Los Angeles Dodgers. The deal is said to value the iconic franchise at a staggering $7.1 billion, setting a new record in professional sports.
Mark Walter is quickly becoming a key player in the world of sports ownership. With his leadership at Guggenheim Partners and his ownership of multiple franchises, taking control of the Lakers represents more than just a financial transaction – it signifies a new era for Los Angeles as a global sports powerhouse.
Who exactly is Mark Walter? As the CEO of Guggenheim Partners, he oversees a financial services firm managing over $300 billion in assets. In addition to his ownership of the Dodgers, valued at billions, Walter is also involved with Chelsea F.C., Andretti Global racing, the LA Sparks, and the PWHL. His philanthropic efforts have also made a significant impact on social causes.
Walter’s history with the Lakers dates back to 2021 when he acquired a stake in the team alongside Todd Boehly. This latest deal would see him become the majority owner, with the Buss family taking on a minority role. Despite this shift, Jeanie Buss is expected to remain as the team governor.
If approved, Walter would make history by overseeing the Dodgers, Lakers, Sparks, and a professional women’s hockey league simultaneously. The NBA world eagerly awaits final confirmation to make this takeover official.
