Walter was part of David Geffen's bid to buy the Los Angeles Clippers in 2014, when the team went for sale after former owner Donald Sterling was banned by the NBA for racist remarks. However, the team eventually went to Steve Balmer, who acquired the Clippers for $2 billion.

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

For just under $10 billion, private equity firm 3G Capital recently bought Skechers — an ascendant global footwear brand with $9 billion in annual sales and 20,000 employees spread across 5,300 stores.