Everything you need to know about new Lakers majority owner Mark Walter

Mark Walter, the new Lakers majority owner, is far from a novice, having helped run teams across various sports worldwide.

On Wednesday, it was reported that the Buss family sold their majority ownership stake in the Lakers at a $10 billion valuation to Mark Walter, CEO and chairman of the diversified holding company TWG Global.

He already owned roughly 26% of the Lakers after agreeing to a deal with Philip Anschutz in 2021 and had the right of first refusal if the Buss family ever wanted to sell.

Clearly, he did not refuse the offer and will now own the majority stake in the Lakers.

Realistically, this should not have come as a surprise. If the Buss family were ever going to sell the team, it would have been to Walter. As recently as 2022, Brian Windhorst of ESPN speculated the family could look to sell their majority stake in the team and put forward the name of Walter.

The good news for Lakers fans is that we already have an indication of what Walter is like as a majority owner as he was part of the group that bought the Dodgers back in 2012.

If non-Dodgers fans are unfamiliar with the Walter name, that is by design. He prefers to remain in the background and doesn’t embrace the spotlight that comes with owning a sports team, even one as prominent as the Dodgers.

In a 2012 article from The Gazette, it was reported that he did not want to speak with the LA Times regarding his purchase of the Dodgers.

The few public comments Walter has made have pretty much been out of necessity. He and his five fellow owners held a press conference at Dodger Stadium on May 2, where he said it was just the second time he had done an interview with the press. He didn’t respond to an interview request for a feature the Los Angeles Times published about him two weeks earlier.

I made three efforts over three weeks to try to get Walter on the phone for an interview. No luck.

After my third try, I got an email from Guggenheim’s media contact, Brunswick Group. It was boiled down to this: “ ... as you can understand he is very busy right now.”

Walter did speak to a Chicago Tribune reporter in late March, though.

“I’m a fairly quiet and private person,” he said. “So I haven’t sought publicity.

“To be frank, my belief is if you just keep your head down and work, and you have the fortune to be successful, there really aren’t moments that change you. Yes, your company gets bigger and owns more things, but you’re just the same person you were the day before.”

Despite his mystique and lack of attention-seeking, he was still named by Sports Illustrated as one of the “50 Most Influential Figures in Sports” back in 2024.

In an LA Times article in 2012, Walter mentioned his preference of staying behind the scenes and letting the experts do their job.

The Chicago Cubs season ticket holder did speak with Times reporters when the Dodgers sale was announced and said he would be content to stay in the background with his new team. Longtime baseball executive Stan Kasten will run the operation.“I’m a baseball fan, but I’m not qualified to make baseball decisions, and I don’t want to pretend to be,” said Walter, who was over 20 when he saw his first big-league game in person. “I’m here to support and help my people as much as I can. I’m here to cheer as loud as I can.”

The Dodgers have gone on to have unprecedented success under Walter’s ownership, winning the World Series in 2020 and 2024 and signing superstar Shohei Ohtani.

Such blockbuster signings and aggression to go for it have been part of the identity of the Dodgers during Walter’s time as owner.

In his first summer in charge, he acquired Hanley Ramirez and the owner didn’t mince words on his mindset on doing whatever it takes to win.

“I’m not trying to save a dollar,” Walter said. “I’d rather say we have a great team and maybe spend a little too much.”

The Dodgers fans have certainly enjoyed Walter’s time as the owner.

In a survey conducted by Casino.ca, he was ranked as the most liked owner in all of MLB. Lakers fans will undoubtedly be hoping for the same outcome with their team.

It’s not just team success that has happened for the Dodgers. The star players have enjoyed playing for him as well.

Following the 10-year anniversary of Walter buying his majority stake in the Dodgers, superstar Clayton Kershaw, who was around before the team's sale, made it clear how he felt.

“It’s completely changed,” Clayton Kershaw said, pausing in appreciation, or for dramatic effect, or maybe both. “For the better.”

While owning the Dodgers and now the Lakers would certainly be enough, Walter has even more ties with sports in Los Angeles.

He also owns one-sixth of the Los Angeles Sparks. Lakers legend Magic Johnson and Walter led a group of Dodgers partners that bought a stake in the WNBA team back in 2014.

At the time, the future of the Sparks was very much in flux, and Walter and Magic ensured the franchise would remain in Los Angeles. Here is what they had to say about that purchase, as stated in a WNBA Press Release.

“This is a great day for the city of Los Angeles and the Sparks” said Johnson. “The leaders of this great city came together quickly to keep this franchise right where it belongs. In the city of Angels. Thanks to my sister, Evelyn, playing college basketball, I have a great appreciation of the talented players that represent the WNBA. Our group will now work together to bring our loyal fans another WNBA championship.”

“Earvin came to me and said we need to help save the Sparks and keep them in Los Angeles,” Walter said. “The decision was quite easy for our investment group due to the passion Magic has for this city, these great athletes and our phenomenal fans. This team and its great players should remain a part of the sports fabric of this wonderful city.”

The Sparks went on to win the title in 2016 and still play at Crypto.com Arena to this day.

As an owner of a team that’s part of a large community, such as LA County, advocacy and philanthropic work are often a topic of conversation.

On that front, Walter has helped lead the wildfire recovery initiative here in California.

The Mark Walter Family Foundation and the Los Angeles Dodgers Foundation have provided an initial commitment of up to $100 million to fund the philanthropic effort, which is known as LA Rises.

“Los Angeles will rise again — stronger, more united, and more resilient than ever,” Newsom said in a statement. “Just as California came together to fight the fires, we’ll work together to rebuild. With Mark, Earvin and Casey’s proven leadership and deep commitment to Los Angeles, we’ll tap into the enormous creativity, experience, and resources of the private sector, alongside local, state and federal efforts, to deliver a recovery that benefits all Angelenos.”

This isn’t the first time Walter has made a charitable donation to help improve the lives of people in Los Angeles. Walter also made a $50 million donation to the Los Angeles Dodgers Foundation (LADF), which aims to improve education, healthcare, homelessness, and social justice.

His philanthropic contributions extended beyond Los Angeles, California. Walter was born in Cedar Rapids, Iowa, but went to school in Chicago at Northwestern and resided there with his family even after buying the Dodgers. He is a trustee of the Lincoln Park Zoo and is involved with Chicago Hope Academy and Urban Students Empowered.

Not only do his charity efforts extend beyond L.A., but his sports ownership also reaches beyond the city.

Walter also holds an ownership stake in the Premier League soccer team Chelsea in England and Ligue 1 club RC Strasbourg Alsace in France through the holding company BlueCo, in which he owns a 12.7% stake.

He also holds ownership stakes in various motorsports through TWG Global and its subsidiary, TWG Motorsports, including, but not limited to, the Cadillac Formula 1 Team, the Andretti Global team competing in IndyCar and Wayne Taylor Racing.

Walter’s commitment to women’s sports extends far beyond the Sparks and the WNBA. In 2024, he pledged $5.5 million towards the Women’s Sports Foundation, stating that more funding was necessary.

“Our sports teams, Guggenheim and other companies, are going to pledge $5.5 million,” Walter said, “to put our money where our mouth is.”

Walter also owns the Professional Women’s Hockey League, which he partnered with his Dodgers associates Billie Jean King and Ilana Kloss to form.

With so much experience owning teams in Los Angeles and beyond, it’s clear Walter has the knowledge and resources to be the owner of the Lakers.

As we’ve seen, running the Lakers and meeting the fans’ high demands is easier said than done. And much more still needs to be understood about what this means for the front office and Jeanie Buss’ role, since it’s being reported that she will still be the Governor of the team.

However, Walter has the experience that Lakers fans should want for a person running this iconic franchise.

You can follow Edwin on Twitter at @ECreates88 or on Bluesky at @ecreates88.bsky.social.