LA Lakers sold for $10B to Guggenheim's Mark Walter in richest sports deal ever
Jun 19, 2025
Key Points
- Mark Walter, CEO of Guggenheim Partners, acquires majority control of the Los Angeles Lakers from the Buss family for $10 billion, making it the richest sports deal ever.
- Walter now controls three major sports and entertainment franchises: the Lakers, MLB's Dodgers, and Chelsea FC, signaling confidence in long-term value of sports assets.
- The $10 billion valuation underscores how freely capital flows across industries, from sports ownership to tech talent wars, as demonstrated by Meta's concurrent negotiations with AI leaders.
Summary
Mark Walter, CEO of Guggenheim Partners, is acquiring majority control of the Los Angeles Lakers from the Buss family for $10 billion. The deal is the richest in sports history and makes the Lakers the world's most valuable sports franchise. Walter already owns the MLB's Dodgers and Chelsea FC.
A $10 billion valuation reads as routine in venture capital—a standard Series A or B for a high-flying foundation model company. The valuation itself is not unprecedented by tech standards, where such numbers appear in single funding rounds.
The sale coincides with Meta in advanced talks to bring in Nat Friedman and Daniel Gross to lead AI efforts. Meta is also discussing a partial buyout of their venture capital firm NFDG. The more material story for AI competition is the talent war, not the Lakers transaction.