Title: Mark Walter Buys the Lakers for a Staggering $10 Billion: A New Era for the Purple and Gold
L.A. Lakers Secure Record-Breaking Sale, Marking Most Expensive Sports Transaction Ever
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Mark Walter, the investment guru from Cedar Rapids, Iowa, has stepped up as the new owner of the LA Lakers. The 65-year-old entrepreneur bought the legendary basketball franchise, home to LeBron James and Luka Doncic, for a mind-blowing $10 billion. This makes it the most expensive sports deal ever—globally!
Known for his deliberate silence about matters concerning money, Walter has shown a penchant for spending big. He and partners took over the LA Dodgers back in 2004 for $2.15 billion, and now, he's back with a record-breaking deal for the Lakers. NBA legend Magic Johnson was thrilled and praised the club's CEO, Jeanie Buss, for pulling off this monumental deal.
The Lakers: Ready for a Glittering Future?
Walter's strategy is paying off. His well-funded Dodgers triumphed in 2020 and 2024, with a current value estimated at $6.3 billion. In 2023, they inked a 10-year contract with Japanese megastar Shohei Ohtani worth a whopping $700 million. Last year, the club shelled out $103 million in "luxury tax" for exceeding the league's salary cap of $237 million. In the new season, James pockets around $52.6 million, Doncic nets $46 million, and German Maxi Kleber takes home $11 million. The Lakers will need to recruit more top-tier talent, triggering an unavoidable overspending of the "salary cap" of $154.6 million.
Walter: A Global Investor Extraordinaire
As CEO of Guggenheim Partners, a leading global investment and advisory firm managing over $325 billion in assets, Walter's aggressive sports investments strategy is no surprise. He also leads TWG Global, a multinational conglomerate holding company with investments spanning multiple sectors, including financial services, insurance, AI, technology, entertainment, and merchant banking.
The Lakers have been under the Buss family's rule since 1979, purchased for a mere $67.5 million. After the death of Dr. Jerry Buss in 2013, the club was divided among his six children. Jeanie Buss, the team's CEO, will remain as the Lakers' governor. Despite opposition from two of Jeanie's siblings, Walter secured his majority share in the Lakers in 2025, paving the way for this record-breaking deal.
Beyond the Lakers, Walter co-owns the LA Sparks and the LA Kings as well. He also holds stakes in Chelsea FC, an English Premier League soccer club, and the Cadillac Formula 1 racing team. In an exceedingly rare interview, Walter shared that he prefers to stay in the shadows, leaving team management to those who know best, while making shrewd investments.
[1] Guggenheim Partners - Wikipedia[2] Mark Walter - Wikipedia[3] Los Angeles Lakers - Wikipedia[4] Mark Walter Career & Awards - IMDb
The new owner of the LA Lakers, Mark Walter, bought the legendary basketball franchise for a record-breaking $10 billion, making it the most expensive sports deal ever—globally. As an investment guru known for his penchant for spending big, Walter has also invested in various sports teams like the LA Dodgers, LA Sparks, LA Kings, Chelsea FC, and the Cadillac Formula 1 racing team.
