Who is prospective LA Lakers owner Mark Walter?

Mark Walter has said he sees sport as an "avenue for social change" He may not be name familiar to most sports fans but his reach expands across some of the biggest teams in the world. He was recently namedone of the most influential figures in sport,externalby Sports Illustrated and is involved in baseball, basketball, Formula 1, football, tennis and hockey. Now Mark Walter's portfolio is set to expand even further. Walter is set to become themajority ownerof iconic NBA side Los Angeles Lakers in what is believed to be a deal worth a record $10bn (£7.45bn). But who is he? A 65-year-old American businessman, Walter has a net worth of $6.1bnaccording to business magazine Forbes.,external He is the chief executive of Guggenheim Partners, a privately held global investment firm that says it has more than $340bn in assets. Walter, who is from Chicago, graduated from Creighton University with a degree in accounting, then earned a law degree from Northwestern University before moving into finance and setting up a company which later became part of Guggenheim Partners. Walter is also the founder and chief executive of a holding company - a business created to buy and own the shares of other companies - called TWG Global. According to the Milken Institute think tank,,externalTWG has interests in financial services, renewable energy, sports, media, entertainment, art, eco-tourism and agriculture. Walter has a wife and one child and, says the Milken Institute, "they invest their wealth largely to support organisations and causes focused on social justice, equity, diversity". Walter became the controlling owner of the LA Dodgers baseball team in 2012. They won the World Series in 2020 and 2024. He bought WNBA team Los Angeles Sparks with former Lakers star Earvin 'Magic' Johnson in 2014. Other sporting teams listedTWG's portfolio,externalunder include the Cadillac F1 team, who willenter F1in 2026, and Andretti Global, who compete in Indycar and Formula E. Walter also has a stake in Chelsea and Strasbourg through his holding in BlueCo, which is the parent company of both football clubs. He was part of the consortium led by Todd Boehly which bought Chelsea for £2.5bn in 2022. Boehly is also a part-owner of the Dodgers, LA Sparks and has a stake in the Lakers. TWG also has a share of the Billie Jean King (BJK) Cup tennis tournament and owns the Professional Women's Hockey League. Walter (left) is a controlling owner of the LA Dodgers, who signed baseball star Shohei Ohtani in a £558m deal in 2023 Walter's influence spreads far and wide but he appears someone prefers to stay in the background as he rarely gives interviews. "I'm a fairly quiet and private person,"he reportedly told the Chicago Tribune,externalin 2012. "So I haven't sought publicity. "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." When he spoke to Los Angeles Times reporters at the time of the LA Dodgers sale, Waltersaid:,external"I'm a baseball fan, but I'm not qualified to make baseball decisions, and I don't want to pretend to be. "I'm here to support and help my people as much as I can. I'm here to cheer as loud as I can." He also gave an idea of his thoughts on the influence of sport and part of the reason he invests in it when he wasquoted in a press release,externalin 2023 that announced his joint venture with the International Tennis Federation for the BJK Cup. "I believe sports are one of the most essential avenues for social change and can make a real difference in developing a more equitable society," he said. BBC football reporter Nizaar Kinsella said: "Mark Walter has probably got the strongest connection to Todd Boehly in Chelsea ownership group," said BBC football reporter Nizaar Kinsella. "He's the richest part of the ownership in terms of individual net worth. "I think there was a conscious effort from the current ownership to make Todd Boehly the sort of frontman of the Chelsea bid when it came out, so that's why he is well known, but Mark owns a similar proportion of Chelsea as Todd Boehly. "There is this divide in the Chelsea ownership and he would very much be on the Todd Boehly side. "He kind of feels like a silent partner and I'd say of all the people that own parts of Chelsea, he's the one that I've seen least of." So why would a person as wealthy as Walter want to invest so much in sport? "The price is intriguing," said sport finance expert Kieran Maguire. "It's showing that the value of sports businesses and sports franchises is heading in one direction only. "It also reflects the scarcity factor in terms of sports business. You can't set up a rival because they're not going to expand their number of participants. "You've got an owner with with a lot of excess cash, he wants to buy the trophy asset and you can't get more trophy than the Lakers. "It's a bit like being buying a piece of art. It's that rarity and the inability to duplicate them which has driven up prices. "It's a statement purchase. It does set you aside. In the circles that Mark Walter is circulating, it's a way of saying to your fellow billionaires 'I'm at the top of the tree'. "There will be a financial reward from owning the Lakers but it's not a very good return on the investment." No, would be the apparent answer, especially if you ask "business partner" Johnson. Johnson is the famous face associated with Walter and has provided reassurance about the prospect of the Lakers ownership moving from the Buss family, which has owned the team since 1979, to Walter. Jerry Buss bought the franchise for $67.5m and, after he died in 2013, Jeanie Buss has served as the Lakers' governor. "I know that my sister Jeanie would have only considered selling the Lakers organisation to someone she knows and trusts would carry on the Buss legacy, started by her father Dr. Buss,"Johnson said.,external "Now she can comfortably pass the baton to Mark Walter, with whom she has a real friendship and can trust. "She's witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers team, organisation, and fans! "Both are extremely intelligent, visionaries, great leaders, and have positively impacted the greater Los Angeles community!"