Mark Walter Acquires Majority Stake in Los Angeles Lakers in Historic Deal
The businessman Mark Walter has finalized an agreement with the Buss family, owners of the NBA’s Los Angeles Lakers, to acquire a majority stake in the franchise. The transaction, which values the Lakers at the staggering figure of $10 billion, marks a milestone in the history of American sports.
This acquisition sets a new record in the purchase of a sports team in the United States, surpassing the previous mark of $6.1 billion established by the sale of the Boston Celtics in March.
The sale of the Lakers represents a significant change in the NBA, as the Buss family has controlled the franchise since 1979. Mark Walter, CEO and Chairman of TWG Global, already had a minority stake in the Lakers since 2021.
Walter is a renowned investor with involvement in other major sports teams, including the Los Angeles Dodgers of the MLB, the Los Angeles Sparks of the WNBA, and the Cadillac Formula 1 team, which will debut in 2026.
Jerry Buss acquired the Lakers in 1979 for $67.5 million, in a purchase that also included the Los Angeles Kings of the NHL and the former stadium, the Los Angeles Forum.
After the death of Jerry Buss in 2013, the franchise passed to his children, with Jeanie Buss taking the lead.
Under the ownership of the Buss family, the Lakers have won 11 championships, surpassing any other team since 1985.
According to reports, Jeanie Buss will continue to serve as governor of the Lakers.
