Ultra-Wealthy Buyer Secures the Los Angeles Lakers for a Historical $10 Billion Purchase Price
Breaking Records: The Lakers' Earth-Shattering $10 Billion Sale
Brace yourself, sports world! The Los Angeles Lakers are about to set a new benchmark, poised to be sold for an awe-inspiring $10 billion (€8.7 billion), according to reports by ESPN on June 17.
Looking at the same source, the Buss family, who've been the team's proprietors since 1979, are set to sell their dominion over the Lakers to entrepreneur Mark Walter, who currently harbors a share in the franchise. Notably, Jeanie Buss will linger as the president, yet this transfer marks a defining end to the Buss family's 47-year reign atop one of the NBA's most renowned teams (17 championships).
Mark Walter, the mastermind behind TWG Global's holding company and the No.1 guy in charge, owns an extensive portfolio of professional sports teams. He's already the proud owner of the LA Dodgers (baseball) and LA Sparks (WNBA women's basketball), in addition to the Billie Jean King Cup in tennis and the Cadillac racing team, preparing to make a splash in Formula 1 next year.
Los Angeles, We Have a Problem (or a dominating team)
This shift in power within the Lakers brings an end to an era in the NBA. Jerry Buss, who acquired the team in 1979, transformed it into a force to be reckoned with by intertwining success on the court with an overall entertaining experience, complete with cheerleaders and halftime shows.
Under the Buss reign, the Lakers never surrendered their crown to their LA rivals, the Clippers, and collected 11 championships. First with the likes of Magic Johnson, Kareem Abdul-Jabbar, and James Worthy, led by the illustrious coach Pat Riley, whose Wall Street-inspired look garnered attention. Later, came the Kobe Bryant and Shaquille O'Neal saga in the early 2000s, and finally, the Pau Gasol chapter of the 2010s.
King LeBron's Coronation
The emergence of LeBron James propelled the Lakers to their 17th NBA championship during the COVID period. Now the NBA's all-time leading scorer in a Lakers jersey, James continues to break records.
While they edge closer to matching the Boston Celtics’ record of 18 championships, the Lakers can find solace in the record-breaking sale price, a smashing victory by far the highest in American sports history, surpassing the $6.1 billion that the Celtics fetched at the beginning of the year.
The Los Angeles Lakers' record-breaking $10 billion sale to Mark WalterSignals a new chapter in the NBA, marking the end of the Buss family's 47-year reign over the storied franchise and the dawn of an era where basketball titans like LeBron James continue to set new standards, both on and off the court.
