The sale of the Los Angeles Lakers from the Buss family to TWG Global CEO and L.A. owner Mark Walter has been announced by both parites. In addition to having been a minority owner of the team, Walter also has another Lakers connection as he has long worked with franchise legend Magic Johnson with the Dodgers.
If anyone knows exactly what Walter can bring to the Lakers it is Magic, and he fully believes the organization was sold to the right person, via Brad Turner of the L.A. Times:
“One thing that Jeanie [Buss] was going to do is put [the franchise] in the right hands. If she was going to sell, it had to be the right person, and Mark Walter is the right person to take over and lead us for the next 30, 40 years. So, this is the best news that could have happened for all Laker fans across the world. Mark has had his eye on the Lakers for a long time. That’s why he bought [Philip] Anschutz’s [minority ownership] piece first and then he was sitting there, and Jeanie knew this.
“If she ever wanted to sell, he wanted to be the one that bought the team. And they formed a friendship, because that had to happen first. Jeanie had to know that he was going to do just like her father [Dr. Jerry Buss] did and just like she did and that was to make sure that he would do great things in the community as well, like both her father and her have been able to do and also educate him on how much the Lakers mean to not only the Laker fans but to the NBA and to the world.”
The fact that Jeanie Buss was able to form a friendship with Walter and explain to him what the Lakers mean to everyone, and the vision that Dr. Jerry Buss had when first purchasing the team, is extremely important. Walter understands and respects that vision and legacy and wants to build on it. And Magic has seen up close exactly what Walter will do to build the Lakers franchise as a whole:
“The one thing great about Mark is that he’ll hire the best people. He will always have really good people around him to help him bring back championships to Los Angeles and to Lakers fans. I’m excited. This couldn’t have gone any better for Laker fans and the Buss family and the NBA. The NBA knows Mark. It couldn’t have gone better for the Buss family because Mark is a caretaker. You got to be a caretaker, a great caretaker.
“What did Mark do for the Dodgers? He’s been a great caretaker of the brand and of the team. How much money he put into Dodger Stadium. He’s always willing to make the big and bold moves to win. But Mark is a visionary. So, he’s probably already got a vision for the Laker organization and for the team. So, that’s the great thing about him.
“The funny thing is, his personality is just like Jeanie. You won’t see him out front a lot, just like now he’s not out in front of the Dodgers. So, people need to understand that. That’s not his personality. Just like Jeanie’s personality. She hasn’t been out front.”
By all accounts, this will be a positive move for the Lakers that will improve this franchise at every level both on and off the court. The Buss family wouldn’t have sold to him otherwise and Johnson is clearly on board as well.
Sale of Lakers to Mark Walter expected to become finalized in late 2025
Even though Mark Walter and Jeanie Buss have come out and announced the sale, there are still a number of things in the process that must happen before everything becomes official. As of now, the sale of the Lakers is expected to be finalized in the third or fourth quarter of 2025.
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