14 h. ago Billionaire Mark Walter, set to own controlling stake in Lakers, built fortune in investing

The billionaire slated to takeover the controlling interest in the Los Angeles Lakers has built a career leading businesses investing in everything from sports franchises to artificial intelligence

Economics

14 h. ago The $10bn LA Lakers sale proves sports have outgrown billionaires

The Lakers’ record sale underscores how owning elite sports franchises is increasingly beyond even the wealthiest individuals, shifting power toward corporate consortiumsThe sale of the Los Angeles Lakers is many things.First of all, it is a record. The glitziest team in basketball is changing hands at a valuation of $10bn, the biggest ever for a sports franchise. Second, it is probably an excellent deal for the buyer, even at that astonishing valuation. And third, the shift in majority ownership from the Buss family to an investment group led by Los Angeles Dodgers owner Mark Walter, is something else: inevitable. Continue reading...

Economics

14 h. ago The $10bn LA Lakers sale proves sports have outgrown even most billionaires

The Lakers’ record sale underscores how owning elite sports franchises is increasingly beyond even the wealthiest individuals, shifting power toward corporate consortiumsThe sale of the Los Angeles Lakers is many things.First of all, it is a record. The glitziest team in basketball is changing hands at a valuation of $10bn, the biggest ever for a sports franchise. Second, it is probably an excellent deal for the buyer, even at that astonishing valuation. And third, the shift in majority ownership from the Buss family to an investment group led by Los Angeles Dodgers owner Mark Walter, is something else: inevitable. Continue reading...

Economics

49 h. ago Los Angeles Lakers set to be sold for $10 billion to group which also owns the Dodgers

Mark Walter is part of the ownership of many other franchises, including the Dodgers and Chelsea FC

Economics

49 h. ago Lakers to be sold to Dodgers owner at $10bn valuation, per reports

Buss family sells team after 45-year tenureNew owner Mark Walter also owns WNBA’s SparksThe Buss family is entering an agreement to sell a majority stake in the Los Angeles Lakers at a $10bn valuation, ESPN reported on Wednesday, marking the end of an era for one of the NBA’s most influential families.Mark Walter, the CEO and chair of holding company TWG Global, is set to take the majority ownership under the agreement, ESPN’s NBA insider Shams Charania said in a post on X. Walter was already a minority owner in the Lakers and is also primary owner and chair of the Los Angeles Dodgers of Major League Baseball, and the Los Angeles Sparks of the WNBA. Continue reading...

Politics

3 d. ago LeBron stars in Amazon ad, credits family for historic 23rd season return while nursing knee injury

LeBron James may be daydreaming about Prime Day deals in his new Amazon commercial, but there’s no fantasy when it comes to his real-life focus: getting his knee healthy in time for training camp

Events