In a landmark deal reshaping the landscape of professional sports ownership, the Los Angeles Lakers are reportedly set to be acquired by Mark Walter, the principal owner of the Los Angeles Dodgers and a stakeholder in Chelsea FC, for an estimated $10 billion. This transaction marks the most expensive takeover in American sports history, signaling a significant shift in the Lakers' long-term direction after 46 years under the Buss family's control.
Walter, the CEO of TWG Global and co-founder of Guggenheim Partners, strategically positioned himself for this acquisition. He initially purchased a 26% stake in the Lakers from Philip Anschutz in 2021. That deal included a crucial "right of first refusal," giving Walter the inside track if the Buss family ever decided to sell their 66% majority stake. This foresight has now culminated in Walter securing majority control of one of the NBA's most iconic franchises.
While the Buss family is relinquishing majority ownership, they are expected to retain approximately 15% of the team. More importantly for the team's faithful, Jeanie Buss, who has served as the Lakers' governor since her father Jerry Buss passed away in 2013, will remain in that role. This ensures continuity in leadership and preserves the Buss family's legacy within the organization, at least for the foreseeable future.
Walter's acquisition brings a proven track record of success. Since taking ownership of the Los Angeles Dodgers in 2012, he has revitalized the baseball franchise, leading them to multiple World Series appearances and titles in 2020 and 2024. His ownership style is characterized by a willingness to invest in talent and infrastructure, creating a winning culture that resonates with fans. He also owns stakes in the Los Angeles Sparks (WNBA), Andretti Global, and the Professional Women's Hockey League. Furthermore, TWG Global holds stakes in the Billie Jean King Cup tennis tournament and the Cadillac Formula One team.
The sale of the Lakers has sent shockwaves throughout the NBA. The $10 billion valuation dwarfs previous franchise sales, including Mark Cuban's sale of the Dallas Mavericks for $3.5 billion and Wyc Grousbeck's sale of a majority stake in the Boston Celtics for $6.1 billion. This reflects the Lakers' unique brand value, driven by their storied history, passionate fan base, and global appeal.
While some fans may lament the end of the Buss era, many are optimistic about the future under Walter's leadership. His financial resources and commitment to winning could usher in a new golden age for the Lakers, potentially leading to increased investment in player development, facilities upgrades, and a renewed focus on championship contention.
The transition in ownership raises questions about the Lakers' long-term strategy. Walter's approach with the Dodgers suggests a willingness to exceed the NBA salary cap and pay the luxury tax to acquire top talent. This could mean a more aggressive pursuit of free agents and a greater emphasis on building a roster capable of competing with the league's elite teams.
As Mark Walter prepares to take the reins of the Los Angeles Lakers, the NBA world watches with anticipation. His track record, financial acumen, and commitment to winning suggest a bright future for the franchise. While the Buss family's legacy will forever be etched in Lakers history, a new chapter is about to begin, one that could redefine the team's trajectory for years to come.
