The Lakers, one of the most iconic franchises in history, are being sold at a historic $10 billion valuation to Mark Walter, a man who many people had never heard of until it was announced he was buying the Lakers.
Walter is actually a very prominent figure in the world of sports ownership, but his role has mostly been behind the scenes. Before Wednesday night’s stunning announcement, Walter already owned a 26% stake in the Lakers; he’s been a stakeholder since 2021. A spokesperson for Walter tells Front Office Sports that he is indeed entering into an agreement “to acquire additional interests” in the Lakers. Sources familiar with the matter confirm the $10 billion valuation is accurate, and a source familiar with the agreement tells FOS the investment is being “driven by Walter,” as opposed to TWG.
In addition to the Lakers, through his holding company TWG Global—and its subsidiary Guggenheim Partners—he has ownership stakes in the Los Angeles Sparks, the Dodgers, Chelsea FC, and Cadillac’s Formula 1 team. He is also the primary financial backer of the PWHL. TWG Global doesn’t just invest in sports. It has holdings across industries, including financial services, insurance, and artificial intelligence as well. In total, the TWG portfolio has an enterprise value of more than $40 billion.
It remains to be seen how visible he’ll be with the Lakers, one of the most high-profile sports franchises in the U.S. The Lakers have roughly 60 million total followers across X, Instagram, and Facebook, compared to 21 million for the Celtics. The Cowboys also pale in comparison to the Lakers, with a little more than 17 million total followers across those platforms.
The Lakers’ cultural impact, especially in the U.S., is unmatched. They’ve won 16 championships and are almost always equipped with some of the biggest stars in the sports world. The star-studded lineage traces all the way back to George Mikan—who played in the 1940s and 1950s when the Lakers still played in Minneapolis (the team moved to Los Angeles for the 1959–60 season). It extends to legends like Wilt Chamberlain, Jerry West, Elgin Baylor, Kareem Abdul-Jabbar, James Worthy, Magic Johnson, Shaquille O’Neal, Kobe Bryant, Pau Gasol, LeBron James, and, most recently, Luka Dončić.
Walter has some big shoes to fill to keep the Lakers’ legacy going. First things first, he’ll need to introduce himself to the team’s current star, Dončić, who apparently is included in the group of people who don’t know much about Walter.
Walter’s low profile appears to be on purpose. The few times he has spoken publicly, he’s talked about his desire to remain behind the scenes. In 2012, he told the Chicago Tribune, “I’m a fairly quiet and private person,” and said he hasn’t “sought publicity.” That same year, the Los Angeles Times reported that Walter, then newly minted as the Dodgers owner, said he was happy to remain a person in the background: “I’m here to support and help my people as much as I can. I’m here to cheer as loud as I can.”
Born in Iowa in 1960, Walter was educated at Creighton University and Northwestern University Law School. Forbes estimates his net worth at $6.1 billion.
