Mark Walter Acquires Majority Stake in the Los Angeles Lakers
SPORTS
New ownership commits to furthering the Lakers’ legacy of excellence while expanding its positive impact in innovation and community.
One of the most storied franchises in global sports is entering a new chapter of ownership, but its famous legacy of excellence remains firmly intact. Following unanimous approval from the NBA Board of Governors, billionaire businessman and philanthropist Mark Walter has officially finalized his acquisition of a majority stake in the Los Angeles Lakers.
Walter, the Co-Chairman and CEO of TWG Global, a diversified holding company spanning finance, AI, media, and sports—is now the principal owner of the 17-time NBA Champions. This acquisition is seen as a major investment not only in a basketball franchise but in a global platform for culture, innovation, and community impact.
Continuity in Leadership
Crucially, the franchise’s current leadership will remain firmly in place. Jeanie Buss will continue as the Governor of the Los Angeles Lakers, maintaining her oversight of the team's day-to-day operations for the foreseeable future. This decision reflects Walter's belief in the successful leadership that has kept the Lakers a dominant force for decades.
Walter emphasized his commitment to the franchise’s core identity and its winning history. “The Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence and the relentless pursuit of greatness,” Walter said. “Few teams carry the legacy and global influence of the Lakers, and it's a privilege to work alongside Jeanie Buss as we maintain that excellence and set the standard for success in this new era, both on and off the court.”
Jeanie Buss reciprocated the enthusiasm, noting her long-standing relationship with the new majority owner. “Over the past decade, I have come to know Mark well—first as a businessman, then as a friend and now as a colleague,” Buss said. “He has demonstrated time and time again his commitment to bringing championships to Los Angeles, and, on behalf of Lakers fans everywhere, I am beyond excited about what our future has in store.”
Building a Sports Powerhouse
Walter’s acquisition of the Lakers adds a formidable pillar to his growing sports portfolio. His holdings already include controlling interests in MLB's Los Angeles Dodgers and the WNBA's Los Angeles Sparks, as well as stakes in major European clubs like Chelsea F.C. His firm, TWG Global, also holds a majority stake in the Cadillac Formula 1 Team, owns the Professional Women's Hockey League, and has a substantial investment in the Billie Jean King Cup.
Working alongside Co-Chairman Thomas Tull, Walter is actively shaping TWG Sports into a global sports enterprise. The goal is to connect these leagues and teams through a shared focus on innovation, leveraging new technologies (like those from TWG AI) and competitive success to deepen fan engagement worldwide.
Beyond the competitive arena, Walter is a prominent philanthropist, committing significant resources to global conservation, education, and expanding opportunities for underserved youth. His approach suggests that the Lakers will not only continue their pursuit of an 18th championship but will also serve as a key driver for community strength and positive influence in Los Angeles and globally.