Mark Walter Takes Controlling Interest in Los Angeles Lakers
mark-walter-takes-controlling-interest-in-los-angeles-lakers
The NBA Board of Governors has unanimously signed off on the sale of a majority share of the Los Angeles Lakers to businessman Mark Walter, completing the transfer of control, the league confirmed.
Walter, who now becomes the club’s controlling owner, called the Lakers “one of the most iconic franchises in all of sports” and said working with longtime executive Jeanie Buss “to maintain that excellence” is a privilege.
Buss will remain the team’s Governor and will continue handling day-to-day operations for at least the next five years, according to the organization. The Lakers said her ongoing role aligns with Walter’s view that professional sports serve as a platform for “inspiring performance, purpose, and community.”
“Over the past decade, I’ve come to know Mark well—first as a businessman, then as a friend, and now as a colleague,” Buss said in a statement. “He’s consistently shown his commitment to bringing championships to Los Angeles, and I’m thrilled about what lies ahead for our fans.”
Expanded sports portfolio
Walter already holds controlling stakes in Major League Baseball’s Los Angeles Dodgers and the WNBA’s Los Angeles Sparks, along with ownership interests in Chelsea F.C. His company, TWG Global, also has a majority position in the Cadillac Formula 1 Team, owns the Professional Women’s Hockey League, and is a major investor in the Billie Jean King Cup.
TWG Global—where Walter serves as co-chairman and chief executive—operates across financial services, merchant banking, artificial intelligence, media, sports, and entertainment.
Todd Boehly’s increased involvement
Lakers minority owner and Dodgers co-owner Todd Boehly will join Walter in the franchise’s ownership group. Boehly had previously held a smaller stake and is expected to take on a more active role alongside his long-time business partner.
The transaction solidifies Walter’s presence across multiple Los Angeles sports teams and marks the latest high-profile move in the NBA’s ownership ranks.
Source: lakersnation.com
