Lakers Sold for Record-Breaking $10 Billion to Dodgers Owner Mark Walter
Social media is buzzing with the bombshell news that the Buss family has agreed to sell their majority stake in the Lakers to Mark Walter for a staggering $10 billion. This deal values the franchise higher than any U.S. professional sports team in history.
The Buss family isn’t walking away completely, though. They’ll keep a 15% minority share of the legendary Los Angeles club.
Jeanie Buss will stay on as the team’s governor for “at least a number of years” – a plan that Walter has fully backed.
So who exactly is the Lakers’ new owner?
Mark Walter is the CEO and chairman of holding company TWG Global and has actually been involved with the purple and gold since 2020, when he purchased 26% of the shares from Phil Anschutz. He tried to buy the whole organization back in 2021 but was turned down.
This isn’t Walter’s first rodeo in professional sports. His company has deep connections across the sporting world, including ownership stakes in Premier League powerhouse Chelsea, the Professional Women’s Hockey League, Cadillac Formula 1, the Los Angeles Dodgers, and the Los Angeles Sparks.
Lakers legend Magic Johnson, who’s both a business partner to Walter and a close friend of Jeanie Buss, is thrilled about the deal.
“Mark Walter is the best choice and will be the best caretaker of the Laker brand,” the Hall of Famer posted on social media. “The proof is in the pudding on what he’s been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner notching 2 World Series and 11 NL West divisional titles in the last 12 years!”
Magic believes Lakers fans should be “ecstatic” about Walter taking over, suggesting he’ll revolutionize the team.
Dodgers manager Dave Roberts also shared his excitement about the news.
“He’s very competitive, and he’s going to do everything he can to produce a championship-caliber team every single year and make sure the city feels proud about the Lakers and the legacy that they’ve already built with the Buss family,” Roberts said.
With Walter’s track record of success with the Dodgers, Lakers fans might have reason to be optimistic about the franchise’s future under its new ownership.
