Mark Walter, owner of the Los Angeles Dodgers, is reportedly finalizing an agreement to acquire majority ownership of the Los Angeles Lakers, as reported by ESPN. Jeanie Buss, who has been the team’s governor since her father, Dr. Jerry Buss, bought the Lakers in 1979, will maintain her position following the sale. This transaction values the Lakers at an extraordinary $10 billion, surpassing the record for the largest team sale in NBA history, previously set by the Boston Celtics’ $6.1 billion sale to Bill Chisholm earlier this year.
Under the ownership of the Buss family, the Lakers have achieved remarkable success, winning 11 championships, with their most recent title coming in 2020. This sale marks a significant shift as the Buss family has held their stake in the team for over four decades. Jeanie Buss will continue to play a pivotal role in the team’s governance, although how this will evolve alongside Walter’s ownership raises some questions, especially given the complexities associated with ownership transitions. Past instances, such as the recent sale of the Dallas Mavericks, illustrate the potential for misunderstandings regarding control over basketball operations.
Walter, who purchased the Dodgers in 2012, has led them to considerable success, including two World Series titles, and has been a minority investor in the Lakers since 2021. Known for their aggressive spending in the MLB, the Dodgers under Walter have pursued a strategy of acquiring high-profile veterans to secure wins. If he applies a similar philosophy to the Lakers, it could signal a new era of robust investment in the team, bolstering both player acquisitions and overall operational support.
The Lakers have been noted for their frugality in recent years regarding supplementary players, a contrast to their historic willingness to invest in star talent. How Walter will manage this aspect remains to be seen. His unified ownership of both the Dodgers and the Lakers positions him as potentially one of the most powerful figures in sports, creating new opportunities for collaboration between the two franchises.
Overall, as Walter prepares to take the helm of the Lakers, there is a palpable sense of excitement and anticipation for what lies ahead for both the Lakers and the Dodgers, fans looking forward to a bright future for these iconic teams.