The Lakers were sold for $10 billion months after the Celtics were sold for $6 billion.
Magic Johnson. AP Photo/Mark J. Terrill
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The Buss family has agreed to sell it’s controlling stake of the Los Angeles Lakers franchise to TWG Global CEO Mark Walter for a record $10 billion, according to multiple reports.
The news comes three months after the Grousbeck family reached an agreement to sell the Celtics to William Chisholm for a then-record $6.1 billion.
Lakers legend Magic Johnson cracked a joke at the Celtics’ expense while tweeting out a link to a story about the sale.
“Just like I thought, when the Celtics sold for $6B, I knew the Lakers were worth $10B!” Johnson wrote on his X account.
Johnson told his X followers that Lakers fans should be “ecstatic” about the new owner.
“A few things I can tell you about Mark,” Johnson said. “He is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win!
“I can understand why Jeanie sold the team to Mark Walter because they are just alike – they are competitive people, l have big hearts, love to give back, and both prefer to be behind the scenes. This makes all the sense in the world.”
According to ESPN’s Ramona Shelburne, Jeannie Buss will stay on as team governor and continue to run the team for “at least a number of years.” Her father, Dr. Jerry Buss, purchased the team in 1979 for $67.5 million.
Walter and Johnson both have an ownership stake in the Los Angeles Dodgers.
“I know that my sister Jeanie would have only considered selling the Lakers organization to someone she knows and trusts would carry on the Buss legacy, started by her father Dr. Buss,” Jonhson said. “Now she can comfortably pass the baton to Mark Walter, with whom she has a real friendship and can trust.
“She’s witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers team, organization, and fans!” he added. “Both are extremely intelligent, visionaries, great leaders, and have positively impacted the greater Los Angeles community! I love both my sister@JeanieBuss and my business partner Mark Walter.”
Former Red Sox outfielder and current Dodgers manger Dave Roberts told ESPN that the record sale marked an “exciting day” for Los Angeles.
“He’s very competitive,” Roberts said. “He’s going to do everything he can to produce a championship-caliber team every single year and make sure the city feels proud about the Lakers and the legacy that they’ve already built with the Buss family.”
Khari A. ThompsonSports Reporter
Khari Thompson covers professional sports for Boston.com. Before joining the team in 2022, Khari covered college football for The Clarion Ledger in Jackson, Miss.
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