In a groundbreaking move for the sports industry, Mark Walter is set to become the new owner of the Los Angeles Lakers after agreeing to a record-breaking purchase price of approximately $10 billion. This monumental sale, reported by ESPN’s Shams Charania, marks the largest transaction ever for a U.S. sports franchise. Walter, a seasoned businessman with a net worth of $12.5 billion as per the Bloomberg Billionaires’ index, has secured a prominent position in the realm of sports ownership.
At 65 years old, Walter serves as the CEO of Guggenheim Partners, a distinguished financial services firm boasting over $325 billion in assets. Additionally, he leads TWG Global, a multinational holding company that further cements his influence in various sectors. Walter is no stranger to the world of sports, already holding significant stakes in multiple teams and organizations. He is the primary owner and chairman of the Los Angeles Dodgers and has invested in a wide array of sports franchises, including Chelsea FC, the Los Angeles Sparks, and the Cadillac Formula 1 racing team.
Walter's prior experience as a sports owner is marked by the Guggenheim Baseball Management group's acquisition of the Dodgers in 2012 for $2.15 billion, a then-record purchase in Major League Baseball. Under Walter's leadership, the Dodgers have experienced remarkable success, clinching the NL West title almost every year since 2013 and securing World Series championships in both 2020 and 2024.
Walter's sports investment portfolio extends beyond baseball. He has co-led the ownership group for the Sparks since 2014, collaborating with notable figures like Lakers legend Magic Johnson. Additionally, he is a co-leader of the BlueCo consortium, which took control of Chelsea FC in 2022. This acquisition followed the sanctions imposed on former owner Roman Abramovich due to geopolitical tensions stemming from Russia's invasion of Ukraine.
Walter's influence in sports is also felt in women's athletics. His financial backing played a crucial role in the establishment of the Professional Women's Hockey League (PWHL) in 2023, with the league's championship trophy aptly named the “Walter Cup” in honor of Walter and his wife, Kimbra. Furthermore, he has ventured into the world of Formula 1 racing as a part-owner of the Cadillac F1 team, which is set to debut in 2026.
Beyond his business pursuits, Walter is dedicated to philanthropy. He is actively involved with various charitable organizations, including the Los Angeles Dodgers Foundation and LA Rises, a forest fire recovery initiative he co-founded with Johnson and entertainment executive Casey Wasserman. Walter's commitment to giving back reflects his deep-rooted values and connection to the community.
A native of Cedar Rapids, Iowa, Walter's educational journey began at Creighton University, followed by obtaining a J.D. from Northwestern University. His extensive academic background laid the foundation for his successful career in the business world and his eventual foray into sports ownership.
With the acquisition of the Lakers, Mark Walter is poised to further elevate the franchise's legacy, bringing his wealth of experience and passion for sports to one of the most iconic brands in the industry.
