Mark Walter close to acquiring Los Angeles Lakers
Businessman Mark Walter is about to present his offer to acquire the Los Angeles Lakers to the NBA’s Advisory Finance Committee this Friday. According to sources close to the process, Walter’s approval as the new majority owner of the franchise could be finalized by the end of this month.
The committee will evaluate Walter’s proposal, valued at $10 billion, to buy a majority stake in the franchise from the Buss family. Subsequently, it will issue a recommendation to the Board of Governors, who could vote on Walter’s approval as early as the end of next week.
If approved, Walter would add one of the world’s most valuable collections of professional sports franchises to his portfolio.
- Majority owner of the Los Angeles Dodgers.
- Owner of the Los Angeles Sparks of the WNBA.
- Owner of the Billie Jean King Cup.
- Owner of the new Cadillac Formula 1 team.
- Owner of the Professional Women’s Hockey League.
- Co-owner of Chelsea FC of the English Premier League.
The acquisition of the Lakers, with a valuation of 10 billion dollars, would surpass the record set by Josh Harris’s purchase of the Washington Commanders in 2023 for 6.05 billion dollars, and the purchase of the Boston Celtics by Bill Chisholm for 6.1 billion dollars in July.
Walter has already demonstrated his ability to make significant purchases. His acquisition of the Dodgers in 2012 for $2.15 billion was a milestone at the time, and the franchise is now valued between $6.8 billion (Forbes) and $7.73 billion (Sportico).
The Buss family will retain a minority stake of more than 15%, allowing Jeanie Buss to continue as governor of the Lakers for the foreseeable future.