Who is prospective LA Lakers owner Mark Walter?

Although he may not be well known to most sports fans, he has a huge following among the world’s biggest teams.

He plays in sports like baseball, basketball, Formula 1, football, tennis, and hockey, and was recently named one of Sports Illustrated’s most influential figures in the sport.

Mark Walter’s portfolio is expected to grow even more.

In what is thought to be a record $10 billion (£7.45 billion), Walter will become the majority owner of the renowned NBA team Los Angeles Lakers.

He is the CEO of Guggenheim Partners, a privately held global investment company that claims to have assets worth more than $ 30 billion.

Walter, a native of Chicago, received his accounting degree from Creighton University, earned a law degree from Northwestern University, and then established a business that later became a part of Guggenheim Partners.

Additionally, Walter is the owner and CEO of TWG Global, a holding company established to purchase and own the shares of other companies.

TWG has interests in agriculture, sports, media, entertainment, eco-tourism, and renewable energy, according to the Milken Institute think tank.

In 2012, Walter assumed control of the Los Angeles Dodgers baseball team. They won the World Series in 2020 and 2024.

In 2014, he and former Lakers star Earvin “Magic” Johnson purchased the WNBA team Los Angeles Sparks.

The Cadillac F1 team, which will enter in Formula E in 2026, and Andretti Global, which will compete in Indycar and Formula E, are two other sporting teams TWG has listed in its portfolio.

Through his ownership of BlueCo, the parent company of both football clubs, Walter also owns shares in Chelsea and Strasbourg.

He was a member of the consortium that purchased Chelsea for £2.5 billion in 2022, led by Todd Boehly.

Boehly owns a stake in the Lakers, the Dodgers, and the LA Sparks.

Walter has a lot of influence, but he seems to have lost touch with people because he rarely gives interviews.

He reportedly told the Chicago Tribune in 2012 that he was “quite quiet and private.” I haven’t therefore sought publicity.

There really aren’t any moments that change you, in my opinion, if you just keep your head down and work and have the fortune to be successful.

“Yes, your business expands and you now have more things to do, but you still have the same people you once had.”

When he addressed reporters from the Los Angeles Times about the LA Dodgers’ sale, Walter said, “I’m a baseball fan, but I’m not qualified to make decisions about baseball, and I don’t want to pretend to be.”

I’m here to help and support my people as much as I can. I’m here to make everyone yawn loudly.

He also shared his thoughts on the impact of sport and why he is investing in it in a press release announcing his joint venture with the International Tennis Federation for the BJK Cup in 2023.

“I think sports are one of the most crucial channels for social change,” he said. “It can make a real difference in creating a more equitable society.

According to Nizaar Kinsella, a BBC football reporter, Todd Boehly and Mark Walter have “probably got the strongest connections” at Chelsea.

In terms of individual net worth, he is the richest member of the group.

“I believe there was a conscious effort by the current owners to make Todd Boehly the kind of frontman of the Chelsea bid when it came out, so that’s why he is well known,” Mark said.

He would be very much on the Todd Boehly side if there was a division between Chelsea and the ownership.

Why would someone with such high wealth as Walter want to make such a large sports investment?

Sport finance expert Kieran Maguire said, “The price is intriguing. It demonstrates that there is only one way to increase the value of sports franchises and sports businesses.

It also shows the sports industry’s “scarcity factor.” Because a rival won’t increase their participant count, you can’t create one.

You have a wealthy owner who wants to purchase the trophy asset, but you can’t get more than the Lakers, the owner says.

It’s similar to purchasing a piece of art, according to the author. Prices have increased because of that rarity and inability to duplicate them.

It’s a statement-making purchase, they say. You are actually set aside. It’s a way to say to your fellow billionaires, “I’m at the top of the tree,” in Mark Walter’s circles.

Would not be the best response, especially if you asked Johnson, your “business partner.”

Johnson, a well-known face associated with Walter, has reassured fans that the Lakers’ ownership may change from that of the Buss family, who has been their team’s owner since 1979.

After Jerry Buss’ passing in 2013, Jeanie Buss has been the Lakers’ governor.

“My sister Jeanie would have only thought about selling the Lakers organization to someone she knows and trusts would continue the Buss legacy, which was started by her father, Dr. Buss,” Johnson said.

She now has a genuine friendship with Mark Walter, whom she can rely on to deliver the message.

She has seen him form a successful team with the Dodgers and is confident that Mark will stand up for the Lakers organization, team, and fans!