Mark Walter is set to become the new owner of the Lakers after an astonishing $10 billion sale, making it the largest transaction for a sports franchise in the U.S.
At 65 years old, Walter, who has a net worth of $12.5 billion according to the Bloomberg Billionaire Index, has reached an agreement to purchase the team from the Buss family. ESPN’s Sham Charania reported this news on Wednesday.
He serves as the CEO of Guggenheim Partners, a financial firm with over $325 billion in assets, and also runs TWG Global, a multinational holding entity.
Walter isn’t new to sports ownership. He’s the primary owner of the Dodgers and holds stakes in various other sports ventures, including Chelsea FC, Los Angeles Sparks, Cadillac’s Formula 1 team, the Billy Jan Cup, and the Professional Women’s Hockey League.
Adding the Lakers—one of sports’ most legendary brands—to his collection is a notable move. Walter’s Guggenheim Baseball Management Group purchased the Dodgers back in 2012 for $2.15 billion, which was a record at the time in MLB.
Under his leadership, the Dodgers have enjoyed consistent success, clinching the NL West title once since 2013 and winning the World Series in both 2020 and 2024.
Since 2014, he has also co-led a group that includes Lakers icon and former owner Magic Johnson.
He played a pivotal role with Chelsea, becoming a co-leader of the Blue Co consortium alongside Todd Boley, Clearlake Capital, and Hansjörg Wyss after the club was sold following former Russian owner Roman Abramovich’s exit in light of geopolitical events.
Walter is a significant backer of the newly established PWHL, with the league’s championship trophy, the “Walter Cup,” named in honor of him and his wife, Kimbra.
Additionally, he’s connected to the Cadillac F1 team, positioned to start competing in 2026 as a part-owner through TWG Motorsports.
A native of Cedar Rapids, Iowa, Walter is actively involved in charitable initiatives, including the Los Angeles Dodgers Foundation and LA Rises, a recovery project launched with Johnson and entertainment figure Casey Wasserman.
He holds a degree from Clayton University and has a JD from Northwestern University, paving his way into the business realm.
