New ownership dedicated to furthering the Lakers’ legacy of excellence while expanding its positive impact in innovation and community

LOS ANGELES--(BUSINESS WIRE)--

Following unanimous approval from the NBA Board of Governors, Mark Walter has finalized his acquisition of a majority stake in the Los Angeles Lakers.

“The 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,” Walter said. “Few teams carry the legacy and global influence of the Lakers, and it’s 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.”

Jeanie Buss will remain Governor of the Los Angeles Lakers and continue to oversee day-to-day team operations for the foreseeable future. Her continued leadership reflects Walter’s view that professional sports are an unsurpassed global platform for inspiring performance, purpose, and community. The Lakers represent a cornerstone of that vision, and he believes in continuing with the winning leadership that has made the franchise a dominant force.

“Over the past decade, I have come to know Mark well—first as a businessman, then as a friend and now as a colleague,” said Jeanie Buss. “He 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.”

Founded in 1947, the Los Angeles Lakers have been a powerhouse in the NBA, reaching the postseason 65 times, including 32 trips to the Finals and 17 championships—cementing one of the most successful legacies in professional sports.

In addition to his majority stake in the Lakers, Walter holds controlling interests in MLB’s Los Angeles Dodgers and the WNBA’s Los Angeles Sparks, as well as stakes in Chelsea F.C. TWG Global holds a majority stake in the Cadillac Formula 1 Team, owns the Professional Women’s Hockey League, and has a substantial investment in the Billie Jean King Cup, the women’s World Cup of Tennis. Walter is Co-Chairman and CEO of TWG Global, a diversified holding company that operates and invests in financial services, merchant banking and finance, TWG AI, sports, media, and entertainment, guiding businesses with untapped potential to new levels of growth.

Walter and Thomas Tull, Co-Chairman at TWG Global, are shaping TWG Sports—a division of TWG Global—into a global sports enterprise that connects their teams, leagues, and properties through a shared focus on innovation, growth, and competitive success.

An active philanthropist, Walter is committed to strengthening communities, expanding opportunity and access, advancing education, and promoting conservation. He and his family have founded and funded numerous organizations to expand opportunities for underserved youth and, through the Walter Family Foundation, are deeply engaged in global conservation—protecting endangered species, safeguarding wilderness areas, and establishing assurance populations.

BofA Securities and Guggenheim Securities served as financial advisors for Walter, with Davis Polk & Wardwell LLP acting as legal advisor.

About Mark Walter

Mark Walter is Chairman and CEO of TWG Global, a diversified holding company that spans the worlds of financial services; insurance; AI and related technologies; sports, media and entertainment; lending and corporate finance; and merchant banking. He and his partners commit a significant portion of profits to promoting stronger communities, equitable opportunity and access, education, and conservation. Through the Walter Family Foundation, he champions the protection of wildlife and the preservation of natural habitats around the world. Walter serves as a trustee of Creighton University, Northwestern University, the Explorers Club, the Field Museum, and the Solomon R. Guggenheim Foundation.

About TWG Global

TWG Global is a diversified holding company led by Chairman and CEO Mark Walter and Co-Chairman Thomas Tull. TWG Global operates and invests in businesses with untapped potential, guiding them to new levels of growth. TWG Sports, the sports division of TWG Global, was created to support and connect its affiliated teams by discovering new talent, leveraging innovative tools, and building immersive brands that deepen fan engagement and drive the next level of excellence. For additional information, visit: twgglobal.com.

About the Los Angeles Lakers

The 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. Today, the Lakers are governed by Jeanie Buss, who, in 2020, became the first female controlling owner of an NBA Championship team. The Lakers play their home games at Crypto.com Arena in downtown Los Angeles and practice at the UCLA Health Training Center in El Segundo.

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Source: TWG Global