Buss Family Sells Los Angeles Lakers To Mark Walter

[SleepingHero]

@ShamsCharania
Mark Walter is entering agreement to purchase majority ownership of the Lakers from the Buss family for a valuation of approximately $10 billion, the largest sale of a professional sports franchise in the world, sources tell ESPN.

$10 billion.

[SleepingHero]

Shams Charania (@ShamsCharania)
BREAKING: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN. Jeanie Buss will continue to serve in her role as Governor after the sale.

[SleepingHero]

@AnthonyIrwinLA
This sale has been in the works for *years*. The Buss family gets a huge payout and the Lakers are now equipped with the incredibly deep pockets that have made the Dodgers into the juggernaut they are.

This is a truly momentous day for the entire NBA landscape.

[WillE]

My first thought was: Luka's team has been sold...again!

[DanSchwartzgan]

So, Luka loses $100mm by being traded and makes the Buss family what?  An extra Billion?

[vfromlmf]

So, Luka loses $100mm by being traded and makes the Buss family what?  An extra Billion?

Ha! And we wondered if Luka to LA had anything to do with the League. How about a $10B valuation for the League's marquee franchise?

"As a general rule, people, even the wicked, are much more naive and simple-hearted than we supposed. And we ourselves are, too." Fyodor Dostoyevsky, The Brothers Karamazov

Meaning, the reason Luka was traded isn't complex. Just follow the money. It's the way of the world.

[Chicagojk]

It was always weird the Lakers are the most important NBA franchise, but they were a family business. Probably one of the poorer owners. With the new CBA, they won't be much impact on the court, I don't think. Although there are a lot of others things they can throw money at. Lakers fans seem to be very happy. Before the Luka trade, things have been a tad rocky in LAL (Is that possible when you get Lebron and win a title?) Anyway, the Buss family has always been very good to superstars. Will the new owner be? He appears to be doing well with the Dodgers.

[ThisIStheYear]

Luka made the Buss family a ton of money, or Nico did.

[david75090]

If you look at how the Dodgers ownership behaves, money is no object. Now they're Lakers ownership. We can say the Luka trade was an unrelated, non-league sponsored event, we can say that, but it sure is coincidental and curiouser and curiouser.

[ThisIStheYear]

Another Mav related note, I thought Cuban got a very bad deal when he sold the Mavs. He accepted a lowball offer in return for retaining operational control and in the end just got robbed. This transaction basically confirms that the Dumonts got a steal.

[HoosierDaddyKid]

It's kind of ironic the NBA's two iconic and winningest franchises were both sold six months apart at record numbers.

[SleepingHero]

Ha! And we wondered if Luka to LA had anything to do with the League. How about a $10B valuation for the League's marquee franchise?

"As a general rule, people, even the wicked, are much more naive and simple-hearted than we supposed. And we ourselves are, too." Fyodor Dostoyevsky, The Brothers Karamazov

Meaning, the reason Luka was traded isn't complex. Just follow the money. It's the way of the world.

This sale indirectly helps out every team in the league too. Valuations across the board has spiked from this for sure. 

I wouldn't be surprised the next expansion teams cost 5 billion+ each.

[HoosierDaddyKid]

https://x.com/ramonashelburne/status/193...2646026641
https://x.com/ramonashelburne/status/193...7712288154
https://x.com/ramonashelburne/status/193...6781082958


The Lakers' sale is far different than the Mavericks and Mark Cuban.

[Chicagojk]

https://x.com/ramonashelburne/status/193...2646026641
https://x.com/ramonashelburne/status/193...7712288154
https://x.com/ramonashelburne/status/193...6781082958


The Lakers' sale is far different than the Mavericks and Mark Cuban.

I wonder how long this lasts?  Pelinka runs the basketball and Buss remaining the governer.  As we have seen with Cuban, after you spend all that money to buy a team you begin to wonder why you don't have ultimate say.   It seems like in time there is a change there.

[michaeltex]

Wasn't there something about Cuban not being eligible to be the Mav's governor because he wasn't the majority owner? That when Dumont took over.

Or is my memory faulty?

If this is true, how does this not apply to the Buss family as a minority owner?

BTW, I think Perlinka's leash just got shorter and his collar tighter.

[SleepingHero]

Wasn't there something about Cuban not being eligible to be the Mav's governor because he wasn't the majority owner? That when Dumont took over.

Or is my memory faulty?

If this is true, how does this not apply to the Buss family as a minority owner?

BTW, I think Perlinka's leash just got shorter and his collar tighter.

Buss family got that clause in writing. Something Cuban failed to do.

[michaeltex]

Lesson learned is "don't do handshake deals with other billionaires".

[khaled1987]

Buss family got that clause in writing. Something Cuban failed to do.

But Cuban said several times the NBA rejected it being in writing.

[omahen]

But Cuban said several times the NBA rejected it being in writing.

And Silver said he is lying (not using these exact words, obviously)

[FireNicoHarrison]

Cuban tries to save his face... I'm sorry Mark, you are guilty just like Harrison&Dumont.

Stop this pathetic show.