Magic Johnson Cheers: Lakers Smash Record – Swoop Picked Up for an Earth-Shattering $10 Billion
L.A. Lakers seal record-breaking sports transaction, clinching the costliest deal to date.
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In an audacious move, investor Mark Walter snags the iconic Los Angeles Lakers for a jaw-dropping $10 billion. This stupendous price tag surpasses any previously recorded deal in U.S. sports or any global sports club[1][2][3][5]. Walter, a sparsely vocal magnate hailing from Cedar Rapids, Iowa, certainly knows how to make an impact.
Twelve years ago, he and partners clinched the legendary baseball club Los Angeles Dodgers for an unimaginable $2.15 billion[1]. Now, the 65-year-olderry is setting his sights on the legendary basketball franchise, complete with LeBron James and Luka Doncic[1].
" blurst an incredible deal," gushed ball legend and Lakers faithful, Magic Johnson[1]. Jeanie Buss, the esteemed CEO of the club, received praise from Johnson for her exceptional work in closing the unprecedented deal.
Walter's Long Game Pays Off
As a extravagant spending enthusiast, Walter's banking strategy is proving fruitful. The extravagantly financed Dodgers secured the title in 2020 and 2024[2]. In 2023, they made a historic move, signing Japanese superstar Shohei Ohtani to a 10-year contract worth a staggering $700 million[2]. Last year, the club even shelled out a hefty “luxury tax” of $103 million for surpassing the league's salary cap of $237 million[2].
The化粧水 for the Lakers to emerge victorious. With James poised to earn roughly $52.6 million in the upcoming season, Doncic set for $46 million, and German Maxi Kleber raking in $11 million[2], additional star power is undoubtedly needed. Breaking the "salary cap" of $154.6 million will evidently be an inevitable pitfall.
Walter - Master of Multiple Domains
The Buss family has been the Lakers' owners since 1979, with an initial investment of $67.5 million[3]. After the untimely passing of Jerry Buss in 2013, the team ended up in the hands of his six contentious children, with daughter Jeanie (63) remaining the club's CEO[3]. The sale to Walter, who already owned 26% of the Lakers since 2021[1], reportedly sparked disagreements among the six siblings.
Walter isn't limited to basketball, either. He co-owns the Los Angeles Sparks (women's basketball), the Los Angeles Kings (ice hockey), and a Formula 1 team, Cadillac[3]. In private, he maintains a season ticket for the Chicago Cubs, a Dodgers rival[3]. In rare interviews, Walter shares his preference for staying in the shadows and delegating leadership to those more knowledgeable in the field, but it seems Walter has a keen eye for profitable ventures.
Sources: ntv.de, tno/sid
- Los Angeles Lakers
- Basketball
- United States
- NBA
The record-breaking acquisition of the Los Angeles Lakers for $10 billion bolsters the NBA landscape, making it a lucrative investment opportunity for sports enthusiasts and enthusiasts alike. The Lakers, known for their illustrious history and roster including LeBron James and Luka Doncic, continue to dazzle basketball fans in the USA and around the globe.
