Magic Johnson Celebrates $10 Billion Sale of Lakers to Dodgers Owner Mark Walter
Hall of Fame legend Earvin “Magic” Johnson expressed uncontainable excitement on Wednesday following the groundbreaking news that the Los Angeles Lakers had been sold for $10 billion—one of the largest franchise sales in sports history.
The Buss family, which has owned the Lakers for over four decades, reached an agreement to sell majority ownership of the team to Mark Walter, CEO and chairman of TWG Global, and the controlling owner of the Los Angeles Dodgers. The deal was first reported by ESPN’s Shams Charania, who noted that Walter already held a minority stake in the Lakers before the acquisition.
A Record-Breaking Sports Deal
This historic sale comes just months after the Boston Celtics were sold for $6.05 billion, which at the time set a new record for an NBA team. Reacting to the news on social media, Johnson tweeted:
“Just like I thought, when the Celtics sold for $6B, I knew the Lakers were worth $10B!”
Johnson, who is a co-owner of the Dodgers alongside Walter, continued to share his enthusiasm on X (formerly Twitter), praising Walter’s leadership qualities and commitment to excellence. He encouraged Lakers fans to be thrilled about the transition:
“Laker fans should be ecstatic. A few things I can tell you about Mark — he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win!”
He went on to compare Walter to outgoing Lakers governor Jeanie Buss, calling both “competitive people with big hearts who love to give back” and emphasizing that they prefer to work behind the scenes while driving success.
Tribute to Jeanie Buss
In a follow-up post, Magic Johnson lauded Jeanie Buss, acknowledging the significance of her decision to sell majority control of the team:
“I know that my sister Jeanie would have only considered selling the Lakers organization to someone she knows and trusts would carry on the Buss legacy, started by her father Dr. Jerry Buss.”
He added that Buss’ firsthand experience watching Walter build a championship-caliber Dodgers team helped cement her decision, describing both leaders as “visionaries, great leaders, and positive forces in the Los Angeles community.”
Legacy of Lakers Ownership
Dr. Jerry Buss originally purchased the Lakers for $67.5 million in 1979. Under the Buss family’s ownership, the Lakers became one of the NBA’s most successful franchises, securing 11 of their 17 total championships.
After Jerry Buss passed away in 2013, Jeanie Buss stepped in as team governor and helped guide the team back to championship glory with a 2020 NBA title led by LeBron James and Anthony Davis.
While Mark Walter will now assume majority ownership, the Buss family will retain a minority stake, and Jeanie Buss will continue to serve as the governor of the team.
Mark Walter’s Expanding Sports Empire
In addition to the Lakers and Dodgers, Walter’s growing sports portfolio includes ownership interests in:
- Los Angeles Sparks (WNBA)
- Andretti Global (motor racing)
- Chelsea FC and RC Strasbourg (soccer clubs in Europe)
This acquisition adds yet another iconic franchise to Walter’s collection and signals a new era for the Los Angeles Lakers.
