Buss Family to Sell Lakers for $10 Billion Valuation to Dodgers Owner Mark Walter – What This Means for Fans

The Buss family is poised to sell the Los Angeles Lakers to financier Mark Walter for a groundbreaking $10 billion, as reported by league insiders. Should negotiations conclude successfully, the team’s value could rise to $12 billion, surpassing the $6.1 billion sale of the Boston Celtics earlier this year.

This sale would shatter records for sports teams. It could reshape not just the Lakers’ competitive edge in the NBA but also impact the Los Angeles Dodgers, another team Walter manages. Jeanie Buss, Jerry Buss’s daughter, will remain as the team’s governor. Her father bought the Lakers for $68 million in 1979 and turned them into an NBA powerhouse, winning ten championships with legends like Kareem Abdul-Jabbar and Magic Johnson.

Walter, 65, is the CEO of Guggenheim Partners, a firm with over $325 billion in assets. He gained a foothold in the Lakers in 2021 when he acquired a 27% share. His past experience includes buying the Dodgers in 2012 for $2 billion, leading to two World Series titles recently.

Magic Johnson, a Lakers legend, shared his optimism about the sale on social media. He emphasized Walter’s commitment to excellence, celebrating the potential for the team to thrive under his ownership. LeBron James, now 40, reportedly feels secure about the changes, even as his career nears its end.

The Lakers have a rich history, boasting 17 NBA championships and a legacy of iconic players. However, the Buss family has been more conservative in spending on team infrastructure. Walter’s ownership might shift that, allowing for increased investment in coaches and players.

The Dodgers’ success under Walter is notable. Since his ownership, they have consistently reached the postseason, thanks to strategic investments that have improved both the team’s roster and facilities. The Dodgers made headlines recently by signing superstar Shohei Ohtani to a staggering 10-year, $700 million deal, an investment that reflects their ambition.

One league insider noted, “Now the Lakers can finally spend what they need to spend.” Walter’s competitive drive could lead to a bright future for the Lakers in the NBA landscape.

Overall, this potential sale illustrates how sports continue to evolve financially and competitively, showing the influence of ownership in shaping team destinies. The coming years will reveal how Walter’s approach contrasts with the Buss family’s legacy.

For further details on this unfolding story, visit The Athletic.

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Los Angeles Lakers, Los Angeles Dodgers, MLB, NBA, Sports Business