The Los Angeles Sparks are owned by an investment group led by Mark Walter, the billionaire founder and CEO of Guggenheim Partners. Walter holds the controlling interest, and his co-owners include Earvin “Magic” Johnson, longtime sports executive Stan Kasten, financier Todd Boehly, and investor Bobby Patton. The group bought the franchise in 2014 and still runs it today.
Mark Walter, the Controlling Owner
Walter is the central figure behind the Sparks. He founded and leads Guggenheim Partners, the global financial services firm, and holds his sports interests through a separate investment vehicle called TWG Global. He also controls the Los Angeles Dodgers, and in 2025 he finalized a majority stake in the Los Angeles Lakers after unanimous approval from the NBA Board of Governors.1NBA. Mark Walter Acquires Majority Stake in Los Angeles Lakers
TWG Global’s sports portfolio reaches well beyond basketball and baseball. It holds a majority stake in the Cadillac Formula 1 team, owns the Professional Women’s Hockey League, and has a substantial investment in the Billie Jean King Cup.1NBA. Mark Walter Acquires Majority Stake in Los Angeles Lakers For Sparks fans, that breadth matters mainly because it signals a long-term owner with the resources to keep investing.
Magic Johnson and the Rest of the Group
Magic Johnson is the most familiar name in the ownership group. The five-time NBA champion and businessman co-led the 2014 acquisition with Walter and remains a co-owner and a public face of the franchise. In 2025, the Sparks announced what they called the largest partnership deal in franchise history, a corporate agreement with Albert.2WNBA. Sparks Announce Partnership with Albert, the Largest in Franchise History
Stan Kasten is the president and CEO of the Los Angeles Dodgers and brings four decades of front-office experience across professional leagues. He was part of the original 2014 group and handles much of the operational oversight that connects the Sparks to the broader Dodgers organization.
Todd Boehly, known for his ownership of Chelsea FC and his role at Eldridge Industries, and Bobby Patton, an investor with ties to the energy sector, round out the core ownership. Both joined the Sparks purchase in 2014.
How the Group Took Over in 2014
The Johnson-Walter group bought the Sparks in 2014 from previous ownership that had struggled financially. The sale price and terms were not publicly disclosed. At the time, the deal was widely seen as a move to keep the team in Los Angeles rather than risk relocation or the franchise folding.
The Sparks are one of the WNBA’s eight founding franchises from the league’s 1997 launch.3WNBA. Inaugural Season Only four of those originals still operate: the Sparks, the New York Liberty, the Phoenix Mercury, and the Las Vegas Aces, which relocated from Utah and then San Antonio.4NBC. How Many Teams Are in the WNBA? Every WNBA Team and City Location, Explained The franchise has won three WNBA championships: back-to-back titles in 2001 and 2002, and a third in 2016 under the current ownership group.5WNBA. Historical Timeline Home games are played at Crypto.com Arena in downtown Los Angeles, the same venue used by the Lakers and the LA Clippers.6Crypto.com Arena. Sparks
Owning the Team Also Means Owning a Slice of the League
Buying a WNBA franchise comes with equity in the league itself. Team owners collectively hold about 42 percent of the WNBA, the NBA holds another 42 percent, and a 2022 investment consortium that includes Nike, Laurene Powell Jobs, and Condoleezza Rice holds the remaining 16 percent. That consortium put in $75 million at a $475 million post-money valuation.
Each existing team originally held a 3.5 percent individual stake in the league, now diluted to roughly 2.8 percent as expansion franchises have joined. Governance runs through the Board of Governors, where each team has a seat. In early 2026, the board unanimously ratified a new seven-year collective bargaining agreement that runs through the 2032 season.7WNBA. WNBA Board of Governors Ratifies Terms of New Collective Bargaining Agreement For the Walter group, that league-level stake sits alongside the Sparks franchise itself as part of what they own.