In a landmark shift in American sports activities, the Los Angeles Lakers has been bought to billionaire Mark Walter for a record-breaking $10 billion, ending the Buss household’s 46-year management of the NBA large. Right here’s every little thing it’s essential to know concerning the blockbuster deal:
Who bought the staff?
The Buss household, which has managed the Lakers since 1979. Jeanie Buss will keep on because the staff’s governor, however management shifts to Walter.
Why is that this deal historic?
The $10 billion price ticket makes the Lakers probably the most priceless sports activities staff in U.S. historical past, surpassing latest file gross sales just like the Boston Celtics ($6.1B) and Washington Commanders ($6.05B).
What does this imply for the Lakers model?
Lakers legend Magic Johnson praised Walter as a “winner” and “one of the best caretaker” for the franchise. His observe file with the Dodgers — together with a World Collection win and blockbuster signings like Shohei Ohtani — has followers hopeful.
When did Walter get entangled with the Lakers?
He purchased a minority stake in 2021 with a first-refusal clause in case of a future sale — which he’s now exercised.
What’s TWG International?
A sports-focused holding firm that owns stakes throughout baseball, basketball, soccer (soccer), tennis, and Components One.
Why did the Buss household promote now?
Whereas no official purpose has been given, business watchers counsel the file valuation and Walter’s current involvement made it a strategic time handy over management.
What’s the legacy of the Buss period?
Eleven NBA titles. From the Magic Johnson-led “Showtime” Lakers to the Kobe–Shaq dynasty and LeBron James’ 2020 title, the Buss household helped outline fashionable basketball tradition.