THE sporting world is still reeling following the shock sale of the Los Angeles Lakers, marking the end of a five-decade dynasty and the start of a new era.
The Buss Family have decided to offload their majority ownership of the infamous Los Angeles Lakers in a record-breaking sale after 46 years, but who is the new owner?
Who is LA Dodgers and Los Angeles Lakers owner Mark Walter?
Mark Walter is a 65-year-old businessman with a net worth of a mammoth $12.5 billion, according to the Bloomberg Billionaires’ index.
After parting ways with a record-breaking and eye-watering sum of $10billion, Walter is set to take primary ownership of the Lakers, in a deal which is the largest-ever sale for a sports franchise worldwide.
But while for some, this may be the first time you have heard of this particular billionaire, this is not Walter’s first rodeo in sport franchises.
Firstly, Mark has been involved as a stakeholder with the Los Angeles Lakers since 2021, following his purchase of Phil Anschutz’s 26% share.
Alongside that, Mark has been involved with some of the biggest franchises in world sport.
The billionaire is the primary owner and chairman of MLB team the LA Dodgers, and has been in the role since 2012 when the Guggenheim Baseball Management group purchased the club for $2.15billion.
Under the Guggenheim group, the Dodgers have enjoyed sustained success, in particular due to the investment in players, quickly making Walter one of the biggest spenders in the MLB.
As a result, the Dodgers have won the NL West all but one time since 2013 and managed to win the World Series titles in 2020 and 2024.
But this is not Walter’s only venture into world sport, having financial interests in Premier League soccer giants Chelsea alongside Todd Boehly.
Walter also has stakes in the Billie Jean King Cup, the Los Angeles Sparks and the Professional Women’s Hockey League.
But it’s not just ball sports; Walter’s portfolio also features the Cadillac Formula One team, which will be making its way onto the grid at the start of the 2026 season.
Andretti Global, who compete in Indycar and Formula E, is also included.
Walter is married Kimbra Walter and the pair live in Chicago.
The 61-year-old is impressive in her own right, building a successful career as an attorney and philanthropist involved in education, conservation, and social impact work.
She serves on the boards of the Lincoln Park Zoo, OneGoal, and the Goodman Theatre, and the couple has a daughter together.
What does it mean for the Los Angeles Lakers?
Jeanie Buss has been the face of the Lakers since 2013 after taking over from her father and the family patriarch Jerry Buss, after his death.
While Jeanie will continue her role as governor with the Lakers, the sale does mark the end of an era, after being owned by the family since 1979.
Kobe Bryant celebrating the Lakers’ NBA finals win in 2010[/caption]
In that time, the Lakers have won seven NBA finals, famously Jeanie became the first woman to lead an NBA championship team, and had legendary teams with some of the greats of the game, including Kobe Bryant, Shaquille O’Neal, Magic Johnson, and Kareem Abdul-Jabbar.
Walter loves to splurge on the biggest names, and with the most talented players in the NBA already at his fingertips, including the new face of the franchise, Luka Doncic, and veteran player LeBron James, the team surely has a bright future ahead.
Walter will look to continue his run of success, which he has seen with his other financial investments, and build on the successful legacy of the Buss Dynasty.
How do Lakers fans feel about the buy-out?
The reaction to the news on social media has been divided, as some fans welcome this new era for the franchise due to Walter’s track record, while others mourn the loss of the dynasty that has seen their team through the last five decades.
Magic Johnson who spent his whole career at the Lakers, took to social media to ease the fans minds over the sale.
He wrote: “I know that my sister Jeanie would have only considered selling the Lakers organization to someone she knows and trusts would carry on the Buss legacy, started by her father Dr. Buss.”
Magic Johnson played for the Lakers his whole career[/caption]
He added: “Now she can comfortably pass the baton to Mark Walter, with whom she has a real friendship and can trust. She’s witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers team, organization, and fans!”
