Billionaire Mark Walter seals record-breaking $10 billion acquisition of the Lakers in monumental agreement.
Sports Tycoon Mark Walter Set to Own LA Lakers for a Record-Breaking $10 Billion
Mark Walter, a whopping $12.5 billion man, is about to take over the LA Lakers, as announced by ESPN's Shams Charania. The deal, worth an astonishing $10 billion, marks the largest-ever sale of a U.S. sports franchise. This billionaire isn't new to sports ownership, with a diverse portfolio centered on LA and beyond.
Walter, the head honcho at Guggenheim Partners – a financial services firm managing over $325 billion – and TWG Global, a multinational holding company, is no stranger to the thrill of sports investment. He already owns a significant stake in the Los Angeles Dodgers, the NFL's LA Rams, and even Chelsea FC in London.
Walter's involvement with the Dodgers began in 2012, when he and his group purchased the team from Frank McCourt for a record-breaking $2.15 billion. Under his guidance, the Dodgers have dominated the MLB, winning the NL West all but one time since 2013 and even clinching World Series titles in 2020 and 2024.
Alongside LA legend Magic Johnson and five others, Walter co-leads the ownership group for the LA Sparks since 2014. The team has seen success under their supervision, boasting a 2016 championship and reaching the 2017 WNBA Finals.
More recently, Walter has taken part in the BlueCo consortium that took over Chelsea FC in 2022 following sanctions against former owner Roman Abramovich. The consortium, which also includes Todd Boehly and Clearlake Capital, set their sights on other investments, too, like the Professional Women's Hockey League and a new Formula One racing team, slated to debut in 2026.
The philanthropic spirit doesn't go unnoticed in this Iowa-native. Walter is involved with the LA Dodgers Foundation and LA Rises, a forest fire recovery effort he co-founded with Magic Johnson and entertainment executive Casey Wasserman.
Now, with the prospect of adding the LA Lakers to his already impressive stable of sports teams, Mark Walter isn't just making sports history, he's redefining it.
What do you make of Walter's monumental sports empire? Drop your thoughts below!
Sources:
- Enrichment Data: The Washington Post, Forbes, and The New York Times have reported on Mark Walter's various sports investments.
- Mark Walter's profile on the Guggenheim Partners and TWG Global websites provide detailed information about his businesses and their interests.
- Official websites and press releases of the LA Lakers, LA Dodgers, LA Sparks, Chelsea FC, and PWHL offer additional insights into the teams and Walter's role with them.
Mark Walter, a tycoon with interests in finance and business, is expansionizing his sports empire by acquiring the LA Lakers for a record-breaking $10 billion. In addition to his stake in the LA Dodgers, the NFL's LA Rams, Chelsea FC in London, and the LA Sparks, this remarkable deal confirms him as a significant player in the business of sports, including football and basketball.
