Mark Walter: 5 Things to Know About the Billionaire Dodgers Owner Making Headlines Today

When the Buss family took control of the Los Angeles Lakers in 1979, they paid roughly $67 million. Forty-six years and 17 NBA championships later, that storied tenure is about to end: multiple outlets report that billionaire financier and Los Angeles Dodgers owner Mark Walter has reached an agreement to acquire a controlling stake in the Lakers for about $10 billion, the richest franchise sale in sports history. Who is Mark Walter? Walter, 64, is co-founder and CEO of Guggenheim Partners, a global financial-services firm managing more than $300 billion in assets. Sports fans know him best as the controlling owner of the Dodgers, a position he assumed after leading the club’s $2.15 billion purchase from Frank McCourt in 2012. Under his stewardship the Dodgers have appeared in three World Series and won the 2020 title, while consistently posting one of MLB’s highest payrolls—a spending philosophy that has Lakers fans buzzing about an equally aggressive approach to roster building. Deal structure and franchise control Sources familiar with the transaction say Walter will buy roughly 66 percent of the Lakers, giving him majority control, while siblings Jeanie, Joey and Jesse Buss will retain minority stakes. Crucially, Jeanie Buss is expected to remain team governor, preserving a degree of continuity at the top of the organization. The NBA’s Board of Governors must still approve the sale, a process that typically takes 60–90 days but is not expected to face significant resistance given Walter’s financial pedigree and existing ownership experience in Major League Baseball. A record-shattering price tag At $10 billion, the valuation nearly triples the previous NBA record set when Mat Ishbia purchased the Phoenix Suns and Mercury for $4 billion in 2023. It also eclipses the $6.05 billion paid by Josh Harris for the NFL’s Washington Commanders in 2024, establishing a new high-water mark for global team sales across all sports. Analysts point to three drivers: the NBA’s impending media-rights negotiations, the league’s new in-season tournament, and the Lakers’ unparalleled global brand, which consistently tops jersey-sales and social-media engagement charts. What changes on the court? Walter’s track record with the Dodgers suggests deep pockets and a willingness to invest in both payroll and infrastructure. In baseball, he okayed a $300 million renovation of Dodger Stadium and green-lit blockbuster contracts for Mookie Betts and Shohei Ohtani. League insiders expect a similar commitment to competitive spending in Los Angeles, where the Lakers are facing critical roster decisions around aging superstars LeBron James and Anthony Davis. Business ripple effects The sale’s enormous valuation will likely raise franchise prices league-wide and could accelerate talks of expansion fees—already rumored to top $4 billion each for prospective teams in Las Vegas and Seattle. The purchase also tightens the connection between the Dodgers and Lakers, two of the city’s cultural pillars, potentially opening cross-promotional opportunities and shared sponsorship deals that could further consolidate Walter’s influence in the Southern California sports market. Next steps The NBA’s finance committee will review Walter’s bid documents in the coming weeks, after which owners will vote. Assuming approval, closing is expected before the 2025-26 season, positioning Mark Walter as one of the most powerful figures in American sports and ushering in a new era for the purple and gold.