NBA Alerted as Lakers’ New $6 Billion Owner Expected to Modernize Los Angeles Franchise

NBA insider revealed an interesting case on the Lakers' new owner, Mark Walter after Jeanie Buss sold the franchise to him in a $10 billion deal.

NBA Alerted as Lakers’ New $6 Billion Owner Expected to Modernize Los Angeles Franchise

Jeanie Buss and Mark Walter (Image by FirstSportz)

According to insiders who spoke to ESPN, the Buss family is agreeing to sell Mark Walter most of the Los Angeles Lakers for the highest-ever franchise valuation of any professional sports team in the United States: about $10 billion. This agreement has been gradually developing since 2021. An ordinary lease extension at Crypto.com Arena triggered a chain reaction.

Walter has an estimated net worth of $12.4 billion and has always had his eyes set on owning an NBA side for years now. After owning a 27% stake in the Lakers, his main wish is finally getting fulfilled as the Lakers’ former owner, Jeanie Buss, sought one of the most highly sought-after exits in the sports entertainment business.

Interestingly, NBA reporter Brian Windhorst opened up on how Walter will transform the Lakers completely. Windhorst claimed that Walter will most likely bring new transformations to the organization, making them an immediate threat to opponents in the NBA.

If I were another team, I would not think this is a great development. I think the Lakers are only gonna get more dangerous as an organization with the more resources that are theoretically here about to be poured into it

Brian Windhorst said

The implicit premise behind Mark Walter’s $10 billion acquisition of the Lakers is that whatever magic he performed on the Los Angeles Dodgers will inevitably translate to basketball. Hopefully for the Lakers, it should. The Dodgers were in dire straits financially when he took ownership in 2012. His initial actions were surgical rather than showy.

He brought forth a TV agreement worth a record $8.35 billion and a completely remodeled front office. The Dodgers have become a talent factory because of this player development mechanism. The Lakers need that same merciless operational efficiency far more than they need his money. It remains to be seen how Walter transforms the Lakers once the deal passes through.

Magic Johnson congratulates Jeanie Buss for selling the franchise for a whopping $10 billion

The Los Angeles Lakers are being sold by the Buss family to Mark Walter for $10 billion, according to ESPN’s Shams Charania. During the Buss era, the Lakers won eleven championships. The legendary Earvin “Magic” Johnson of Michigan State, selected with the first overall pick of the 1979 NBA Draft by the late great Jerry Buss, was the catalyst for that success.

Magic Johnson and Jeanie Buss
Magic Johnson and Jeanie Buss (Credits: X)

Now, an ecstatic Johnson took to his X account to send his flowers to former Lakers’ owner Jeanie Buss.

I just talked to my sister Jeanie Buss to tell her congratulations, and that I’m so happy for her and family. I told her that her dad Dr. Buss would be very proud of her for getting $10B for the Lakers, the largest sports franchise sale in history!

Magic Johnson wrote on X

Johnson further posted a series of tweets regarding the Lakers’ new owner, Mark Walter, and what he brings to the franchise. For Buss, it was more than just a sale. It was a master class in strategic planning, timing, and leverage. Walter’s three-year power play was turned into her ideal exit by Jeanie Buss. She preserved the Buss heritage and ensured prosperity for future generations.

Rachel Nichols had huge praise for Jeanie Buss after the Lakers deal

As Mark Walter owns the majority of the Lakers, according to a source, Jeanie Buss and her family will retain a minority stake in the team—just over 15%—for a while. Additionally, according to those familiar with the agreement, Buss will continue to serve as the Lakers’ governor and coach for “at least a number of years,” ESPN’s Ramona Shelburne reported.

Given that, Rachel Nichols took to her X account to commend Jeanie Buss’ resilience throughout her tenure and this sale procedure.

I admire @JeanieBuss for many reasons – there were so many obstacles she had to climb over, both internally & externally, to become the team’s lead owner, and THEN she operated in a way that earned the extreme respect of the NBA’s other owners.

Rachel Nichols wrote on X

As for the Lakers’ new owners, the Los Angeles Dodgers, Los Angeles Sparks, Chelsea of the English Premier League, and the Professional Women’s Hockey League are among the professional sports teams in which Walter and TWG Global have stakes. This whopping deal now marks a new era in the history of the Lakers franchise.

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