Say Goodbye to the Buss Family: Mark Walter Buys L.A. Lakers in an Unprecedented $10 Billion Deal
L.A. Lakers Secure Largest Deal in Sports History Through Sale
Want the latest scoop on the sports world? Look no further! Mark Walter, the smart guy from Cedar Rapids, IA, isn't shy about spending big bucks - and that's just what he did when he bought the iconic basketball team, the L.A. Lakers. Beating out previous records, this deal goes down as the priciest sports transaction ever!
Walter is usually tight-lipped, but his bank account is always talking, baby! Thirteen years ago, he dropped a mind-blowing $2.15 billion for the legendary baseball team, the L.A. Dodgers. Now, with star players like LeBron James, Luka Doncic, and Maxi Kleber, he's dropping another staggering $10 billion on the Lakers.
L.A. Lakers all-time great, Magic Johnson, was over the moon: "I'm ecstatic for Lakers fans worldwide! My sister, Jeanie Buss, has truly outdone herself in securing this unbelievable deal!" Is it too much dough? Not if Walter has anything to say about it: "I'm not looking to save a penny - I'd rather sink a little extra cash into a great team."
The Dodgers' Dynasty Delivered
Walter was spot on: the well-funded Dodgers claimed back-to-back championships in 2020 and 2024, and their current worth is estimated at a jaw-dropping $6.3 billion. In 2023, they shelled out a whopping $700 million over 10 years for Japanese sensation Shohei Ohtani. Last season, they handed over an outrageous $103 million in luxury tax for overspending the league's salary cap of $237 million.
Now that Walter's opening his wallet a bit more for the Lakers, maybe even more glory days are on the horizon for the 17-time champions! With James earning about $52.6 million this season and Doncic set to make $46 million, and German Maxi Kleber taking home $11 million, you can bet they'll need more top players to boost the roster. Breaking the salary cap of $154.6 million won't be an option.
Walter Plays to Win in More Fields than One
The Lakers have been a family affair since Jerry Buss purchased the team in 1979 for a mere $67.5 million. After Jerry's passing in 2013, the team became part of a family trust controlled by his six kids. Sister Jeanie (63) kept the role of team CEO after a grueling legal battle. The sale to Walter, who's held 26% of the Lakers' shares since 2021, reportedly faced opposition from two of his siblings.
It's not just hoops Walter's flipping: he's also got stakes in the WNBA's Los Angeles Sparks, ice hockey's L.A. Kings, and the new Formula 1 team Cadillac. He even holds a season ticket for the Chicago Cubs, the Dodgers' rival. In one of his rare interviews, Walter prefers to stay under the radar and let others call the shots when it comes to leading the teams. But it seems he has a knack for spotting winning investments.
Sources: ntv.de, tno/sid
- L.A. Lakers
- Basketball
- USA
- NBA
In the realm of basketball, Mark Walter, having already invested billions in the L.A. Dodgers, has splashed out $10 billion to adding the L.A. Lakers to his portfolio, making him a dominant player in the NBA, the USA, and the likes. With star players like LeBron James and Luka Doncic on the roster, Walter is undeniably putting his money where his passion lies, indicating ambitious plans for the 17-time NBA champions.
