record-breaking sports agreement seals at an astronomical price.
Facebook Twitter Whatsapp E-Mail Print Copy Link Investor Mark Walter Nabs the L.A. Lakers in a Staggering $10 Billion Deal
Money talk, huh? Mark Walter, the dude from Cedar Rapids, IA, has dropped a cool $10 billion for one hell of a prize - the iconic L.A. Lakers featuring LeBron James and Luka Doncic. Haven't seen a sports franchise go for that kind of dough yet. And guess who already proved his worth? The guy's been running the L.A. Dodgers since 2004, and they just won titles in 2020 and 2024!
Walter's typically tight-lipped about public statements, but he seems to be running a "spend money to make money" kinda operation. Back in 2004, he and his pals paid $2.15 billion for the legendary L.A. Dodgers, already a huge amount at the time. Now he's looking to add the Lakers to his collection, and he ain't shy about it.
"Lakers fans, brace yourselves!" Magic Johnson, Lakers legend and five-time NBA champ, wrote on Twitter. He also gave a shoutout to team CEO Jeanie Buss: "My sister is a badass! She nailed a magnificent deal."
Dodgers Flourish Under Walter's Leadership
It seems like Walter's approach works, 'cause the Dodgers are thriving under his leadership. They even signed Japanese superstar Shohei Ohtani to a juicy $700 million, 10-year contract in 2023! Last year, they even coughed up $103 million in "luxury tax" for exceeding the league's salary cap of $237 million. And the Dodgers' current worth? A whopping $6.3 billion.
But Walter's not about to slow down anytime soon. As more moolah flows to the Lakers, it looks like the 17-time champs could be in for some golden times. James is set for about $52.6 million in the upcoming season, Doncic gets $46 million, and German Maxi Kleber will earn $11 million. Expect them to bring in even more top-notch talent to meet payroll.
Walter's team, the Guggenheim Partners, manages $325 billion in assets. This ain't his first rodeo, either - he's also the owner and chairman of the L.A. Dodgers, and he recently purchased the Lakers from the Buss family for a record-breaking $10 billion.
Walter Going Strong in Multiple Fields
The Buss family has been in control of the Lakers since 1979 (when Jerry Buss bought the team for $67.5 million), but the family's feuding over the team led the family trust to agree to sell to Walter. Jeanie Buss, who's been running the team since her father's death in 2013, will remain as governor and represent the team in league matters.
So, Walter isn't just a one-hit wonder. He's also a co-owner of the L.A. Sparks (women's basketball), the L.A. Kings (hockey), and there's even a new Formula 1 team called Cadillac on the horizon. And he's a season ticket holder for the Chicago Cubs, the Dodgers' biggest rivals. Not afraid of competition, eh?
When asked about his investment savvy, Walter kept it simple: "We have a great team, and maybe we're spending a little too much, but we're gonna win." He makes it look easy, what can I say?
Source: ntv.de, tno/sid
- Los Angeles Lakers
- Basketball
- USA
- NBA
The record-breaking $10 billion purchase of the Los Angeles Lakers, a prestigious NBA team, further cements Mark Walter's dominance in American sports, particularly basketball. Walter, the owner and chairman of the L.A. Dodgers and Guggenheim Partners, has added the 17-time NBA champions to his elite collection. This deal, hailed as the hottest sports deal in history, demonstrates Walter's ambitious approach to investment in the NBA and basketball.
