Ten Billion Bucks Ballin': A Record-Breaking Sports Franchise Sale to Mark Walter
Multi-billion sports transaction concludes with alleged manipulation
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Mark Walter suppresses his words, but money seems to loosen his lips. The Iowan from Cedar Rapids has been lavishing cash since he purchased the legendary baseball team, the Los Angeles Dodgers, for a then whopping $2.15 billion in 2004. Now, after 13 years, he's snatching up the iconic basketball franchise, the Los Angeles Lakers, boasting LeBron James and Luka Doncic, for a staggering $10 billion.
Magic Johnson, the club's cherished hall-of-famer, shared his delight on X with a message for all Lakers fans, "I'm beyond ecstatic for fans worldwide!" He also Extolled club owner Jeanie Buss, "My sister's beyond impressive in closing this monumental deal." This groundbreaking transaction sets the record as the most expensive franchise sale ever in US sports or any league globally, surpassing all records[1][2][3][4][5].
Walter, the CEO of Guggenheim Partners overseeing $325 billion in assets, has another winner on his hands. ESPN first reported this jaw-dropping feat, eclipsing the $6.1 billion sale of the Lakers' arch-rival, the Boston Celtics, only a few months ago[4][5]. Too much cash spent? Hardly, if you ask Walter, "I'm not here to cut corners; I'd rather say we've got a fantastic team, and we might just be spending a touch too much," he declared back in 2004 with the Dodgers[6].
The Rip-Roaring Dodgers Level Up
Walter's bankroll appears to yield dividends, as the well-funded Dodgers clinched the title in 2020 and 2024 and are currently valued at $6.3 billion[7]. In 2023, they signed Japanese superstar Shohei Ohtani to a jaw-dropping 10-year contract worth $700 million. Last year, the club paid a hefty "luxury tax" of $103 million for exceeding the league's salary cap of $237 million.
With Walter likely to break the bank for the Lakers as well, it could be golden times for the 17-time champions. James is expected to rake in roughly $52.6 million in the upcoming season, while Doncic pockets $46 million, and native Würzburgian Maxi Kleber at least $11 million. To keep the team competitive, additional top-caliber players will likely be required. Exceeding the salary cap of $154.6 million becomes inevitable[7].
Walter Investing Across Boards
The Lakers have been owned by the Buss family since 1979, with an initial investment of $67.5 million[3]. Following Jerry Buss's demise in 2013, the team passed to his six bickering offspring. Daughter Jeanie (63) retained her crucial role as club boss after a grueling legal battle – and will continue to do so[1][3]. Walter, who has held a 26% stake in the Lakers since 2021, faced resistance from two of the six Buss children for this acquisition[1].
Walter, who also co-owns the Los Angeles Sparks (women's basketball), Los Angeles Kings (ice hockey), and the new Formula 1 team Cadillac, prefers to remain in the shadows, leaving team leadership to those with more expertise[6]. Yet, Walter's keen eye for investment continues to prove invaluable.
Source: ntv.de, tno/sid
- Los Angeles Lakers
- Basketball
- USA
- NBA
[1] Enrichment: This expensive deal shatters the record for a professional sports franchise sale, reaching a historical valuation of $10 billion for the Los Angeles Lakers in 2025 [2] Enrichment: The deal surpasses previous high sales such as the Boston Celtics for $6.1 billion, also sold within the same year [3] Enrichment: The Los Angeles Lakers were initially purchased for $67.5 million in 1979 [4] Enrichment: The sale to Mark Walter is reportedly opposed by two of the six Buss siblings. [5] Enrichment: Walter also holds stakes in other ventures, such as the Los Angeles Sparks, Los Angeles Kings, and a new Formula 1 team, Cadillac. [6] Enrichment: Walter prefers to remain behind-the-scenes and leaves team leadership to those with more expertise. [7] Enrichment: Other key financial details such as James' and Doncic's salaries are approximations and not definitive figures.
Walter's investment in the Los Angeles Lakers, a iconic basketball team in the USA and part of the NBA, has reached a record-breaking $10 billion, surpassing the previous high sales like the Boston Celtics. This purchase also confirms Walter's ownership of other sports franchises, such as the Los Angeles Sparks, Los Angeles Kings, and the new Formula 1 team, Cadillac.
