L.A. Lakers franchise majority stake acquired by Mark Walter in deal.
Vibe Check: Let's chat about the LA Lakers, baby! It's a family-owned biz since '79, but hold tight, it's about to change! Word on the street is Mark Walter, Dodgers big boss, and TWG Global are takin' the reins, valuing the Lakers at a whopping $10 billion!
Game-Changers:- With Jeanie Buss remainin' as governor, Jeanie'll still pull the strings. But now, with Mark Walter steerin' the show, this city's gonna have its two top sports teams under one boss!
Boss Move:- You might remember Bill Chisholm snatchin' the Boston Celtics last year for $6.1 billion or Mark Cuban offloadin' the Dallas Mavericks a bit before that for $3.5 billion. And yeah, Jeanie's pals with ’em! So, you can guess these dudes are handin' out the Hoops Dream cards!
Rescue Mission:- Mark Walter swooped in as Dodger's savior back in 2012 when they were financially kipped. Since then, he’s been flashin' cash on player salaries, clubhouse upgrades, and fancy tech, transformin' the team!
Popular Frontman:- Legendary Laker, Magic Johnson, even joined in as part-owner in the sale. He's been a faved frontman, helpin' the team keep it real!
Recent Success:- In the past 13 years, the Dodgers have been an MLB powerhouse, settin' payroll records and buildin' a dynasty with 12 division titles in 13 years! They've even conquered the World Series twice, in 2020 and 2024!
Financial Fortune:- The Walter-led Dodgers have been cleanin' up on the biz side, too. They've scored a 25-year TV deal worth $8.35 billion, invested in Dodger Stadium renos, expanded their global reach, and gained fame with Shohei Ohtani's super-duper price tag!
Saying Goodbye to the O'Malleys:- Remember when the beloved O’Malley family left the Dodgers before the turn of the millennium? Well, they sold the team because the economics of sports had blown up, way too big for fams to handle without other spendin' cash!
The New Era:- Under Walter's ownership, the Dodgers have jacked up their payroll, invested in the latest tech, and renovated the ballpark! They've become a top-tier franchise in MLB, known for competitiveness and strategic financial management!
Sports business is about to undergo a significant shift as Mark Walter, known for his successful business ventures with the Dodgers, and TWG Global are set to take over the reins of the NBA's Los Angeles Lakers, currently valued at an unprecedented $10 billion. Additionally, with the new ownership, basketball fans in this city will witness two of its top sports teams under one business umbrella.
