Blockbuster Deal: Lakers Near $10 Billion Sale as Magic Johnson Endorses New Ownership

According to a report from ESPN insider Shams Charania, the Buss family is finalizing a deal to sell a majority stake in the Los Angeles Lakers to Mark Walter, CEO and chairman of TWG Global. The transaction is valued at approximately $10 billion, with sources suggesting the final price tag could climb as high as $12 billion — nearly double the record-setting $6.1 billion valuation of the Boston Celtics earlier this year.

Magic Johnson Backs the Move: “This Is a Win for Lakers Fans”

Lakers legend Magic Johnson, who partnered with Mark Walter in the 2012 acquisition of the Los Angeles Dodgers, publicly endorsed the sale via social media.

“Lakers fans should be thrilled,” Magic wrote. “Here’s what I can tell you about Mark — he’s driven by winning, excellence, and doing things the right way. He’ll invest whatever it takes to win! I understand why Jeanie Buss is selling to him: they share the same vision.”

A New Era of Spending for the Lakers?

For decades, the Buss family’s personal wealth has been largely tied to the Lakers, a rare case in today’s NBA where most owners have amassed fortunes in industries outside of sports. Under Buss ownership, the Lakers were historically more conservative in spending on coaching salaries, front-office talent, and secondary team operations like buying second-round draft picks.

A league source close to the Lakers told ESPN:

“I’m honestly excited. Now the Lakers can finally act like a true big-market powerhouse and spend like one.”

Mark Walter’s Track Record: Winning and Spending Big

In 2012, Walter’s Guggenheim Baseball Management group purchased the Dodgers for $2.15 billion from Frank McCourt, who had driven the team into bankruptcy. Walter outbid future New York Mets owner Steve Cohen, who had submitted a $2 billion offer.

Since taking over, Walter invested millions into rebuilding the Dodgers' roster, revamping infrastructure, and upgrading Dodger Stadium. Under his leadership, the Dodgers have not missed the postseason, capturing World Series titles in 2020 and 2024.

Walter has gradually expanded his sports portfolio. In 2014, he acquired a stake in the WNBA’s Los Angeles Sparks, later becoming a majority investor in a professional women’s hockey league and ventures in Formula 1 racing. In 2021, Walter became a minority stakeholder in the Lakers, securing a first-refusal option for majority ownership. A year later, he joined Todd Boehly’s BlueCo group, which purchased Chelsea Football Club and later acquired RC Strasbourg in France.

A Businessman Unafraid to Spend

The financial health of Walter’s sports ventures is undeniable. Under Guggenheim’s stewardship, the Dodgers’ revenue has skyrocketed. In December 2023, the club signed Japanese superstar Shohei Ohtani to a record-breaking 10-year, $700 million contract. The Dodgers’ subsequent seasons in Seoul and Tokyo opened lucrative new international markets.

That same offseason, the team committed nearly $1.4 billion in new contracts and maintained one of the highest payrolls in Major League Baseball. In 2025 alone, the Dodgers are projected to spend close to $500 million in salary and luxury tax penalties.

As Dodgers President of Baseball Operations Andrew Friedman noted last November:

“Our business is in a very healthy place.”

Ohtani himself cited the organization’s financial commitment and stability as key reasons for choosing the Dodgers.

What’s Next for the Lakers?

With a proven track record of aggressive spending and championship ambition, Mark Walter’s ownership could transform the Lakers into a more financially fearless franchise. Lakers fans, executives, and former players alike seem to believe this marks the dawn of a new era — one where the iconic purple and gold might finally start acting like the NBA’s financial heavyweight it has always claimed to be.