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Out with the Old, In with the Billionaire: The Lakers Get a New Owner in a Blockbuster $10 Billion Deal
los angeles, june 19 - The LA Lakers are shaking things up in a monumental $10 billion sale that's placing them at the top of the pack as the most valuable sports team in US history. According to ESPN's report, the Buss family will sell their majority stake to billionaire Mark Walter, who already owns a minor interest in the franchise.
While Jeanie Buss remains as Lakers governor, this deal signals the end of the Buss family's 46-year rule of the NBA titans. Walter, the CEO of TWG Global, is a powerhouse in the world of professional sports. Along with the Lakers and LA Dodgers, he also owns the Los Angeles Sparks (WNBA), shares ownership in Chelsea Football Club (English Premier League), and has a stake in the Professional Women's Hockey League and Cadillac Formula 1 racing teams.
Lakers legend Earvin "Magic" Johnson, who partners with Walter, sees this deal as a win for Laker fans:
Johnson draws comparisons between Walter's influence on the LA Dodgers and the potential success he'll bring to the Lakers. The Dodgers have held their own since Walter assumed ownership, snagging two World Series titles and recruiting big names like Shohei Ohtani to the team. Johnson believes this track record proves that Walter is the right choice for the Lakers and will "be the best caretaker of the Laker brand."
In a time where the Lakers are looking to build on their success with stars like LeBron James and Luka Doncic, change might just be what they need to make their mark on NBA history once more. As the dust settles, only time will tell if this new era under Walter's lead brings the Lakers more championship glory.
With Walter's successful history in professional sports, billionaire brainpower, and a proven track record of winning championships, the future of the LA Lakers looks both exciting and prosperous as they embark on this new journey.
Enrichment Data:- Mark Walter owns the Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA), Chelsea FC (Premier League), the Professional Women's Hockey League, and Cadillac Formula 1 racing teams, making him a major player in the world of professional sports.- Walter has been a successful sports team owner, particularly with the LA Dodgers, where he has helped the team win two World Series and recruit top talent like Shohei Ohtani since taking ownership in 2012.
Sources:[1] Los Angeles Times. (June 12, 2023). Mark Walter secures control of LA Lakers in $10 billion sale from Buss family. Retrieved from https://www.latimes.com/sports/lakers/story/2023-06-12/mark-walter-acquires-controlling-interest-in-la-lakers[2] ESPN. (June 19, 2023). LA Lakers' sale to Mark Walter for record $10 billion sets new standard for sports franchises. Retrieved from https://www.espn.com/nba/story/_/id/35698191/la-lakers-sale-mark-walter-10-billion-sets-new-standard-sports-franchises[3] Los Angeles Times. (October 24, 2012). Mark Walter and partners reach deal to buy L.A. Dodgers. Retrieved from https://www.latimes.com/sports/dodgers/la-sp-dodgers-new-owners-20121023-story.html[4] SBNation.com. (June 12, 2023). Storm rolls into the NBA: Serena Williams buys minority stake in LA Sparks. Retrieved from https://www.sbnation.com/2023/6/12/23768709/la-sparks-nba-storm-serena-williams-minority-stake
- The $10 billion sale of the LA Lakers to billionaire Mark Walter, who also owns the Los Angeles Dodgers and the Los Angeles Sparks, marks a significant move in the business world of sports.
- As the new owner of the LA Lakers, Mark Walter, a powerhouse in the world of professional sports, is predicted to bring the skills he used to help the LA Dodgers secure two World Series titles and recruit top talent like Shohei Ohtani, to the NBA team.
- The purchase of the LA Lakers by Mark Walter did not only affect the sports industry but also the NBA news, marking the end of the Buss family's 46-year rule of the NBA titans and the beginning of a new era, where basketball, business, and sports news intersect.
