{"id":250477,"date":"2025-10-30T16:59:08","date_gmt":"2025-10-30T16:59:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/250477\/"},"modified":"2025-10-30T16:59:08","modified_gmt":"2025-10-30T16:59:08","slug":"nba-approves-mark-walter-10-billion-deal-for-la-lakers","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/250477\/","title":{"rendered":"NBA Approves Mark Walter $10 Billion Deal for LA Lakers"},"content":{"rendered":"

\n\tFollowing unanimous approval from the NBA<\/a>\u2018s board of governors, billionaire Mark Walter<\/a> has closed his acquisition of a majority stake in the Los Angeles Lakers<\/a> in a deal worth an estimated $10 billion. Walter, CEO of Guggenheim Partners, also owns the L.A. Dodgers, among other holdings.<\/p>\n

\n\tThe Buss family, which has owned the Lakers since 1979, will retain a minority ownership stake in the team, and Jeanie Buss will remain governor of the club and continue to oversee day-to-day operations \u201cfor the foreseeable future,\u201d per the team\u2019s announcement.<\/p>\n

\n\t\u201cThe 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,\u201d Walter said in a statement. \u201cFew teams carry the legacy and global influence of the Lakers, and it\u2019s 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.\u201d<\/p>\n

\n\tThe Lakers were founded in Minneapolis in 1947, moved to Los Angeles ahead of the 1960-61 season, and were bought by Dr. Jerry Buss in 1979. The team has reached the NBA postseason 65 times, including 32 trips to the Finals and 17 championships. The Lakers play their home games at Crypto.com Arena in downtown L.A. and practice at the UCLA Health Training Center in El Segundo.<\/p>\n

\n\tJeanie Buss in 2020 became the first female controlling owner of an NBA championship team. <\/p>\n

\n\t\u201cOver the past decade, I have come to know Mark well \u2014 first as a businessman, then as a friend and now as a colleague,\u201d Jeanie Buss in a statement. \u201cHe 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.\u201d<\/p>\n

\n\tWalter is chairman and CEO of TWG Global, a diversified holding company that spans financial services; insurance; AI and related technologies; sports, media and entertainment; lending and corporate finance; and merchant banking.<\/p>\n

\n\tIn addition to his majority stake in the Lakers, Walter holds controlling interests in MLB\u2019s Los Angeles Dodgers and the WNBA\u2019s Los Angeles Sparks, as well as stakes in Chelsea F.C. Meanwhile, TWG Global also holds a majority stake in the Cadillac Formula 1 Team, owns the Professional Women\u2019s Hockey League, and has a substantial investment in the Billie Jean King Cup, the women\u2019s World Cup of Tennis. <\/p>\n

\n\tOutside his business interests, Walter also serves as a trustee of Creighton University, Northwestern University, the Explorers Club, the Field Museum and the Solomon R. Guggenheim Foundation.<\/p>\n

\n\tIn the Lakers transaction, BofA Securities and Guggenheim Securities served as financial advisers for Walter, with Davis Polk & Wardwell LLP acting as legal adviser.<\/p>\n","protected":false},"excerpt":{"rendered":"Following unanimous approval from the NBA\u2018s board of governors, billionaire Mark Walter has closed his acquisition of a…\n","protected":false},"author":2,"featured_media":250478,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[434],"tags":[49,48,8231,117098,459,82],"class_list":["post-250477","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nba","tag-ca","tag-canada","tag-los-angeles-lakers","tag-mark-walter","tag-nba","tag-sports"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/250477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=250477"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/250477\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/250478"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=250477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=250477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=250477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}