Mark Walter to buy NBA giants LA Lakers for $10 billion; check what are his other possession in sports

Mark Walter to buy NBA giants LA Lakers for $10 billion (AP Photo)

The Buss family, who have owned the Los Angeles Lakers (LA Lakers) club for 46 years, is selling the team to billionaire Mark Walter for an incredible $10 billion, according to an ESPN report that cited sources. Walters will purchase the controlling ownership from the Buss family. As per Bloomberg, the development comes after he bought a share in the franchise in 2021 and promised to have the "right of refusal" if a majority ownership was ever offered for sale.

Notably, the Lakers were acquired by the Buss family for $67.5 million in 1979. According to the report, Jeanie Buss, who has led the organization since her father Jerry Buss passed away in 2013, will remain in that position.

According to the Bloomberg report, the $10 billion valuation is noteworthy since it surpasses the $6.1 billion price tag for the Celtics in March 2025, when it was purchased by a consortium led by Bill Chisholm.

According to the BB article, Josh Harris, a co-founder of Apollo Management, paid $6.05 billion for the National Football League's Washington Commanders, making it the next highest sale outside of the NBA.

Other high-profile transactions in the US sports market this year include the $4 billion acquisition of the Phoenix Suns by Mat Ishbia, the $3.5 billion sale of the Dallas Mavericks to the Adelson family, and the $3 billion selling of the Charlotte Hornets by former NBA superstar Michael Jordan.

What are his other possession in sports

With 17 NBA championships, the legendary team is second only to the Boston Celtics. Mark Walter, the CEO of Guggenheim Partners LLC, a financial services company with more than $325 billion in assets, is valued at $12.5 billion by the Bloomberg Billionaire Index (BBI). According to AFP and Bloomberg, Mark Walter is the CEO of TWG Global, a holding company that owns the professional women's hockey league, the Billie Jean King Cup tennis tournament, the newly established Cadillac Formula One team, and the baseball team the LA Dodgers and the women's NBA team LA Sparks. According to the AFP report, Mark Walter is also a member of the ownership group of Chelsea, a football team in the English Premier League (EPL).