The Lakers change their boss and say goodbye to the era of slamming the door! Insider: They're finally free to spend their money

On June 19, Beijing time, according to ESPN's Shams, the Buss family is reaching an agreement with TWGGlobal CEO and Chairman Mark Walter to sell a majority stake in the Lakers. The deal is valued at about $10 billion, and a source familiar with the talks said the deal could end up worth $12 billion, nearly double the Celtics' previous sale price of $6.1 billion.

"Magic" Johnson was part of the team that bought the Dodgers with Walter, and as a legend of the Lakers, he expressed excitement about the sale of the Lakers.

"Lakers fans should rejoice," Johnson wrote on social media, "and I can tell you a couple of things about Mark: He's driven by winning, striving for excellence, and doing the right thing." And he'll put in the resources he needs to win! I can understand why Jenny sold the team to Walter because they have similar interests. ”

The Buss family's wealth is largely tied to the Lakers, and most of the NBA's owners today earn their fortune outside of sports. In the past, the Lakers have been more frugal in paying coaches and management, buying second-round draft picks, and other auxiliary but important functions needed to run a world-class team.

A league source close to the Lakers admitted: "I'm really excited — now the Lakers can finally go free and spend like a top team." "

Walter's team, the Guggenheim Baseball Management, bought the Dodgers from owner Frank McCourt for $2.15 billion in 2012, when McCourt had brought the club into bankruptcy. Walter defeated a $2 billion offer from future New York Mets owner Steve Cohen to secure the club.

Walter invested millions of dollars to rebuild the roster, improve internal infrastructure, and renovate Dodger Stadium. Under his leadership, the club never missed the playoffs and won championships in 2020 and 2024. Along the way, Walter added more sports assets to his portfolio. In 2014, he acquired a stake in the WNBA's Los Angeles Sparks. He owns the Professional Women's Hockey League and has started investing in motorsports.

In 2021, Walter and Boely took a stake in the Lakers. A year later, Walter joined Boehly's BlueCo group, which acquired Chelsea Football Club. The group also owns the French football club Strasbourg.

Under Guggenheim's management, the Dodgers' revenues seem to have reached new heights. In December 2023, the team signed Japanese superstar Shohei Ohtani to a 10-year, $700 million contract, which has dramatically changed their business opportunities overseas as the Dodgers kick off seasons in Seoul, South Korea and Tokyo, Japan, for the past two seasons. In the same offseason that they signed Shohei Ohtani, they committed to about $1.4 billion in new salaries and made a significant investment last winter. Their salaries have consistently been among the highest in the league, and the Dodgers are expected to spend nearly $500 million on salaries and expected luxury taxes in 2025 alone.

"Our business is very healthy," Friedman, president of baseball operations for the Dodgers, said in November. Shohei Ohtani said part of his desire to join the Dodgers is because of the investment and stability of the boss group.