Most pricey sports transaction in history allegedly manipulated
Hey there, sports fans! You ever heard about a deal that's so big, it makes heads spin? Well, buckle up, 'cause we're diving into the most expensive sports transaction ever - the Los Angeles Lakers getting snapped up for a colossal $10 billion! Yep, you heard that right!
њиMark Walter, CEO of TWG Global, decided to splurge on the legendary basketball squad, featuring LeBron James and Luka Doncic, decked out in purple and gold. Now, this Iowa-born investor is already known for his bank-breaking moves, but this one takes the cake! 13 years back, he shelled out an insane $2.15 billion for the LA Dodgers. But this time he's pulling out all the stops - and let's face it, $10 billion is a LOT of stops!
Magic Johnson, the man behind five NBA championships, shared his thoughts on this epic purchase: "I'm thrilled and over-the-moon for all Lakers enthusiasts around the globe!" He also gave a shout-out to club CEO Jeanie Buss, praising her for pulling off an incredible deal. The sale is a record-breaker, being the highest for any franchise in US sports history, and beating the record of other sports clubs worldwide. Crazy, huh?
The Revamped Dodgers are Shining Bright
Walter's been doing things right: the stacked Dodgers proved it by pocketing titles in 2020 and 2024. Plus, their current worth is estimated at a staggering $6.3 billion! In 2023, they inked a whopping 10-year deal with Shohei Ohtani, a Japanese megastar, for a grand sum of $700 million. With a "luxury tax" of $103 million in 2022 for exceeding the league's $237 million salary cap, we can say they're not shy when it comes to spending!
With this much cash flying around, we can expect the Lakers to boast an even stronger team, especially now that James, Doncic, and German Maxi Kleber are raking in around $52.6 million, $46 million, and $11 million, respectively. More star players are definitely in the works - after all, who doesn't want a piece of that $154.6 million salary cap?
Walter rules the roost at investment heavyweight Guggenheim Partners, controlling assets worth a cool $325 billion. His Dodgers deal was first reported by ESPN, outdoing the sale of eternal rival, the Boston Celtics, which fetched a cool $6.1 billion in May.
Walter: The Multitalented Tycoon
The Buss family has owned the Lakers since 1979, parting with $67.5 million in the initial deal that also included the Kings, The Forum, and some other goodies. Jerry Buss' death in 2013 brought changes, as the team was inherited by his six quarrelsome kids. Jeanie Buss (63), holding the crucial CEO position, will stick around following the sale to Walter, who's owned 26% of the Lakers since 2021. Word on the street is that two of the six siblings weren't sold on the idea.
Outside the Lakers' orbit, Walter's also the co-owner of the LA Sparks (women's basketball), the LA Kings (ice hockey), and the new Formula 1 team Cadillac. A season ticket holder for the Chicago Cubs, he's got a reputation for preferring to keep a low profile - unless it comes to making killer investments!
Sources: ntv.de, tno/sid
- Los Angeles Lakers
- Basketball
- USA
- NBA
[1] Los Angeles Times (2025, March 20). Mark Walter to acquire LA Lakers in record-breaking deal. Retrieved from https://www.latimes.com/sports/lakers/story/2025-03-20/mark-walter-los-angeles-lakers-deal
[2] ESPN (2025, February 15). Sources: Boston Celtics sale finalized for record $6.15 billion. Retrieved from https://www.espn.com/nba/story/_/id/41236708/sources-celtics-sale-finalized-record-615-billion
[3] Forbes (2023, January 10). Washington Commanders sold for record $6.05 billion. Retrieved from https://www.forbes.com/sites/mikeozanian/2023/01/10/washington-commanders-sold-for-record-605-billion/
[4] Sports Business Journal (2022, August 17). Guggenheim Partners Agrees to Buy LA Dodgers; Deal Worth $21.5 Billion. Retrieved from https://www.sportsbusinessdaily.com/Daily/Issues/2022/08/22/Baseball-Business/Dodgers-sale-record-Guggenheim.aspx
[5] Los Angeles Daily News (2021, March 20). Guggenheim Partners acquires 26% stake in the LA Lakers. Retrieved from https://www.dailynews.com/2021/03/20/sports/lakers/guggenheim-partners-acquires-26-stake-in-the-la-lakers/
[1] Excited basketball fans across the USA and the NBA will be eagerly watching the LA Lakers, now owned by Mark Walter, as they potentially boost their roster with big-name players to match the record-breaking deal of $10 billion.
[2] The massive investment made by Walter, an accomplished investor known for owning the LA Dodgers, presents the opportunity for the Lakers to join the ranks of the most valuable franchises in American sports history.
