Mark Walter Takes Over the Los Angels Lakers: A New Era Begins in Purple and Gold
Mark Walter officially became the majority owner of the Los Angeles Lakers on Thursday after the NBA Board of Governors unanimously approved his purchase from the Buss family. The sale closed immediately at a jaw-dropping $10 billion valuation—shattering every record in professional sports history.
To put that in perspective, when Dr. Jerry Buss bought the Lakers back in 1979, he paid $67.5 million. That’s not even what some teams pay for a single player these days. The appreciation on that investment? Absolutely bonkers.
Who Exactly Is Mark Walter?
If you’re not familiar with Walter, let me paint you a picture. This guy doesn’t just collect sports franchises like baseball cards. He builds empires. The 65-year-old billionaire is the CEO and co-chairman of TWG Global, a multinational holding company that’s got its fingers in more pies than a Thanksgiving dinner.
His sports portfolio reads like a greatest hits album. Walter already owns the Los Angeles Dodgers (who are currently in the World Series), the WNBA’s Los Angeles Sparks, a piece of Chelsea F.C. in the Premier League, the Cadillac Formula 1 team, and the Professional Women’s Hockey League. He has an estimated net worth of $7.3 billion according to Forbes. He is not afraid to spend it.
When Walter bought the Dodgers for $2.15 billion back in 2012, people thought he was crazy. Now? That team’s worth somewhere between $6.8 and $7.73 billion.
The Buss Family Legacy Continues (Sort Of)
Here’s where things get interesting. While Walter now owns the majority stake, the Buss family isn’t completely out of the picture. They’re retaining more than 15% ownership, which means they’ve still got skin in the game.
More importantly, Jeanie Buss, who’s been running the show since taking over from her legendary father, will remain as the team’s Governor for at least the next five years. She’ll oversee day-to-day operations “for the foreseeable future,” according to the team’s statement.
“Over the past decade, I have come to know Mark well—first as a businessman, then as a friend, and now as a colleague,” Jeanie Buss said. “He has demonstrated time and time again his commitment to bringing championships to Los Angeles, and on behalf of Lakers fans everywhere, I am beyond excited about what our future has in store.”
That is the kind of endorsement that should make Lakers fans sleep a little easier at night. The Buss family has been the heartbeat of this franchise for 46 years, delivering 11 championships during their tenure. Keeping Jeanie in a leadership role maintains that continuity while injecting some serious financial firepower.
What This Means For the Purple and Gold
NBA Commissioner Adam Silver didn’t hold back in his praise for the deal, calling Walter “a committed steward of the team” while thanking the Buss family for their “transformational leadership and service.”
Walter himself seems to understand the weight of what he’s taking on. “The Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence and the relentless pursuit of greatness,” he said in a statement. “Few teams carry the legacy and global influence of the Lakers, and it’s a privilege to work alongside Jeanie Buss as we maintain that excellence and set the standard for success in this new era, both on and off the court.”
Walter’s track record speaks for itself—he invests in winning, invests in infrastructure, and isn’t afraid to open the checkbook when necessary.
For a Lakers franchise that’s been trying to recapture its glory days, having an owner with both the financial resources and proven success in professional sports could be exactly what the doctor ordered. With LeBron James in the twilight of his career and Luka Doncic looking to cement his legacy, the timing couldn’t be better for a fresh injection of championship-level ambition.
The $10 billion price tag isn’t just a number—it’s a statement. It says the Lakers aren’t just a basketball team; they’re a global brand, a cultural institution, and a license to print money when things are clicking on all cylinders.
Breaking Records Like It’s Nothing
What was the previous record for a sports franchise sale? That was the Boston Celtics going for $6.1 billion to Bill Chisholm just a few months ago in July. Walter and the Lakers just blew that out of the water by nearly $4 billion. It is the most expensive sports franchise purchase in world history, and it’s not even close.
This sale also highlights the insane trajectory of NBA valuations. The league’s franchises have become blue-chip investments that keep appreciating faster than anyone predicted. When you combine the global reach of basketball, the Lakers’ iconic brand, and Los Angeles’ massive market, you get a perfect storm of value.
The Bottom Line
After nearly half a century of Buss family stewardship, the Lakers are entering uncharted territory. But if Walter can bring even a fraction of the success he’s had with the Dodgers over to Crypto.com Arena, Lakers fans have every reason to be optimistic.
The man clearly knows what he’s doing, and he’s not buying the Lakers to be a placeholder owner. He’s in it to win championships, build a dynasty, and add more banners to the rafters. That’s the only language Lakers fans understand, and Walter seems fluent.
