A new era is beginning in the California basketball landscape, due to the sale of the Lakers, so fans should be excited!
A prestigious organization
The Los Angeles Lakers are one of the most prestigious sports franchises not only in North America, but in the whole world, and we've just had blatant proof of this.
Mark Walter
The NBA team now has a new owner, as the Buss family has sold its majority stake to Mark Walter, a powerful businessman, for $10 billion (US).
A record sale
This is a record sale for an American organization in the history of sport, while the Lakers' value was initially set at 7.1 billion dollars (US) by Forbes, in 2024.
A brief moment at the top
To give you an idea, the Boston Celtics were bought for $6.1 billion (US) last March, the same team that previously held the record in question.
He sure loves sports!
Mark Walter is CEO and founder of TWG Global, in addition to being a shareholder of the Los Angeles Dodgers in MLB.
Sparks next?
He is also interested in acquiring the Los Angeles Sparks (WNBA), a professional women's basketball team
Magic approved the whole thing!
Lakers legend Magic Johnson, a member of Mark Walter's group of investors that once acquired the Dodgers, said he was pleased with the decision. They know each other well.
Jeanie Buss
As for Jeanie Buss, leader of the Buss family, she will remain the Lakers' governor, but only for a short time, to ensure the transition.
A family affair for 46 years
The Buss have owned the Lakers since 1979, and a new era is beginning in California basketball, so fans should be excited!