Davis Polk Advised Mark Walter On His Acquisition Of A Majority Stake In The Los Angeles Lakers

Davis Polk Advised Mark Walter On His Acquisition Of A Majority Stake In The Los Angeles Lakers

Davis Polk advised Mark Walter in connection with an agreement with the Buss Family Trust to acquire a majority stake in the NBA’s Los Angeles Lakers. Jeanie Buss will continue to serve as the governor of the franchise and will oversee day-to-day operations. The transaction is expected to close in the third or fourth quarter of 2025, subject to customary closing conditions, including NBA approval.

Mark Walter, who has been a minority owner of the Lakers since 2021, is the Chairman and CEO of TWG Global, a diversified holding company co-led with Thomas Tull. His sports ownership portfolio includes interests in the Los Angeles Dodgers, WNBA’s Los Angeles Sparks, the Billie Jean King Cup, the Cadillac Formula 1 Team, and the Professional Women’s Hockey League (PWHL).

Founded in 1947 in Minneapolis and relocating to Los Angeles in 1960, the Lakers have a storied history, with 17 NBA championships and 32 finals appearances. Under Jeanie Buss’s leadership, the team claimed its most recent title in 2020, making her the first female controlling owner of a championship-winning NBA team.

The Davis Polk corporate and sports law team advising on the transaction includes Neil Barr (Chair and Managing Partner), Michael Davis (Partner), Brian Wolfe (Partner), and Heather Weigel (Counsel). Ethan R. Goldman (Partner) provided tax advice, Matthew J. Bacal (Partner) advised on intellectual property matters, and Adam Kaminsky (Partner) advised on executive compensation. Team members are based in the New York and Washington, D.C. offices.

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