Ten Billion Bucks! Magic Johnson in Awe: The Crazy-Ass Biggest Sports Deal Ever Closes
Record-breaking sports transaction has been allegedly manipulated.
Hit Share Send Via Message Email This Print This Link This Investor Mark Walter Nabs the LA Lakers - For a Bloody Staggering Ten Billion!
Mark Walter, the chat from Cedar Rapids, Iowa, has been known to be lavish with his words, but he sure spends money like it's going out of style. A dozen years back, he, alongside his pals, bought the iconic baseball club LA Dodgers for an unbelievable 2.15 billion smackers. Now, the 65-year-old buying sensation, Walter, has set his sights on the legendary basketball league, LA Lakers, featuring LeBron James and Luka Doncic - and he's just dropped a whopping ten billion on it!
"I'm stoked, ya'll! Lakers fans worldwide, I salute you!" gushed club legend Magic Johnson in a tweet. The Basketball Hall of Famer, who nabbed five NBA titles in purple and gold, also showered praise on club CEO Jeanie Buss: "My sis here did an astounding job sealing this mind-boggling deal!" Breaking the bank has never been more of a thing for a sports franchise, or any club in the world, for that matter. Too much dough? Walter apparently thinks not. "I ain't saving pennies," he said after bagging the Dodgers, "I'd say we got a stellar team and might've dropped a few extra bucks."
The Swanky Dodgers Dazzle
Walter's got a point: With a war chest, the Dodgers proved victorious in 2020 and 2024, and their current value is pegged at a cool 6.3 billion. In 2023, they secured Japanese megastar Shohei Ohtani with a ten-year contract worth 700 mil. Last year, they coughed up a luxurious tax of 103 million for exceeding the league's salary cap of 237 million.
Sports "Monumental Mistake" Super Clash of Leagues? NBA's Aggressive Plans Alarm the Old World With Walter undoubtedly laying down a few more Benjamins for the Lakers, golden years might just be on tap for the team with seventeen titles. James is set to earn a cool 52.6 million in the new season, Doncic 46 million, and German Maxi Kleber 11 million. More top-tier talent is bound to join the roster if they keep busting the bank. Blowing the "salary cap" of 154.6 million? Inevitable, it seems.
Walter heads up Guggenheim Partners, an investment firm that oversees a stunning 325 billion in assets. This second sports conquest, first reported by ESPN, dwarfs the sale of the Lakers' archrival: The Boston Celtics went for 6.1 billion in May.
Walter Touches Many Bases
The LA Lakers have been owned by the Buss family since 1979, with an initial purchase price of a more humble 67.5 million. After Jerry Buss' 2013 demise, the team went to his feuding six kids. Daughter Jeanie (63) kept the reins as club CEO following a brutal legal battle - and will continue in that capacity. The sale to Walter, who's owned 26 percent of the Lakers' shares since 2021, reportedly faced opposition from two of the six siblings.
Walter's also got a piece of the LA Sparks (women's basketball), the LA Kings (ice hockey), and the upcoming Formula 1 outfit Cadillac. Off the field, he's a private Cubs season ticket holder, a Dodgers rival. In one of his scarce interviews, Walter revealed he prefers to stay out of the spotlight and leave team leadership to those who know more about it than he does. But it seems Walter has a keen eye for a solid investment.
Source: ntv.de, tno/sid
- LA Lakers
- Basketball
- USA
- NBA
The monumental acquisition of the LA Lakers, a renowned NBA team known for sports such as basketball, by investor Mark Walter for a staggering $10 billion, sets a new standard in sports deal values. With the addition of LeBron James, Luka Doncic, and other top-tier players, the Lakers' future prospects could lead to more triumphs in the NBA.
