Straight Talkin' the Lakers Deal 🏀
Big-dollardeal forthcoming: LA Lakers on the market for a new record-breaking owner, with a whopping ten billion dollars on the table.
Yo, here's the lowdown on the LA Lakers and their mega-bucks ownership change. The star-studded team, helmed by the one and only LeBron James, is about to be owned by billionaire Mark Walter. According to the news, Mark is gonna snag the majority of shares from the Buss family, who've been running the show since the late '70s.
The team's new worth? A whopping $10 billion dollars! That makes them the most valuable sports team on the planet. In comparison, the Boston Celtics, their rival, was recently sold for around six billion dollars.
Despite the sale, Jeanie Buss, president of the Lakers, will stay on board. Plus, the Buss family will keep a small slice of the pie, about 15%, for a while. These guys have been bossing around the Lakers since '79, and during this time, they've won 11 NBA championships for California.
Walter, CEO of TWG Global, has been a part of the Lakers since 2021 and owns the Dodgers too. He's also involved with the Los Angeles Sparks, Chelsea FC, and more! So now he's rockin' the Lakers alongside the Dodgers and other sports squads. This deal marks the end of almost 50 years of family control. The $10 billion valuation smashes recent NBA franchise sales, thanks to the Lakers' iconic global brand and their historic success with those 11 NBA championships under the Buss family. 🏆🚀
The Lakers' new ownership, led by billionaire Mark Walter, is now the proud owner of the majority of shares, making the Lakers the most valuable sports team globally, worth an astounding $10 billion. Despite the sale, the iconic NBA team will continue to make history, having won 11 NBA championships and maintaining a strong connection with the Buss family, who will retain a modest 15% ownership.
