Mark Walter, the controlling owner of the Los Angeles Dodgers, is preparing to finalize his consortium’s bid. He will look to get approved to buy the Los Angeles Lakers in front of the NBA’s Advisory Finance Committee. This historic meeting opened up a path for Walter. If all goes well by the end of the month, he will be the new majority owner of the storied franchise.
Walter’s bid values the doormat Lakers at a totally nutso $10 billion. If completed, this offer would break the current record held by Josh Harris, who purchased the Washington Commanders for $6.05 billion in 2023. Even more so, it would overwhelm Bill Chisholm’s purchase of the Boston Celtics for $6.1 billion in July.
Walter is no stranger to high-profile transactions. His winning bid for the Los Angeles Dodgers in 2012 – $2.15 billion – was an unprecedented figure at the time. During his ownership, the value of the Dodgers has soared. Forbes pegs it at $6.8 billion, while Sportico says it might be as much as $7.73 billion.
Walter’s influence has gone far beyond the Dodgers. He’s the proud majority owner of a number of other professional sports franchises—including the WNBA’s Los Angeles Sparks, the Billie Jean King Cup and the new Cadillac Formula 1 team. He is an owner of the Professional Women’s Hockey League. Should his current attempt to buy the Lakers be successful, he’ll own one of the most…”trophy”…”collections” in the world boast. This achievement will further cement his legacy in the sports world.
The Buss family has owned the Lakers since their move to Los Angeles in 1979. At the same time, they’ll retain a minority stake of more than 15% in the franchise. With Jeanie Buss firmly entrenched as the Lakers’ head governor, that possibility is unlikely to bear fruit. This is a decision that provides for stable leadership for the franchise for many years to come.
Walter’s likely acquisition represents a fresh start both for Walter himself and for the Lakers. Their storied past on the ice and diehard following among fans create a unique challenge but opportunity for any potential future owner. Should Walter secure approval from the NBA committee, he will not only cement his status as a major player in the world of professional sports but reshape the landscape of ownership within it.
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