Buss Family to sell majority ownership of the Lakers

[16thBBall Fan]

The Buss family it is just been reported that they have sold majority ownership of the Lakers. According to ESPN's Shams Charania is reporting Wednesday the Buss family will sell majority ownership to Mark Walter, who is the CEO and chairman of TWG Global. Notably, Jeanie Buss will remain as the team governor even following the sale. Walter is the owner of the Dodgers as well. This is just being reported in the last 10 minutes I am sure there will be more to come. The Buss family has owned the Lakers since 1979.

[No Hiding Here....BC 21]

3 hours ago, 16thBBall Fan said:

The Buss family it is just been reported that they have sold majority ownership of the Lakers. According to ESPN's Shams Charania is reporting Wednesday the Buss family will sell majority ownership to Mark Walter, who is the CEO and chairman of TWG Global. Notably, Jeanie Buss will remain as the team governor even following the sale. Walter is the owner of the Dodgers as well. This is just being reported in the last 10 minutes I am sure there will be more to come. The Buss family has owned the Lakers since 1979.

Anyone else see Magic taking a high front office job soon?  He's already in with the new majority owners through his Dodgers ownership stakes.

[16thBBall Fan]

1 hour ago, No Hiding Here....BC 21 said:

Anyone else see Magic taking a high front office job soon?  He's already in with the new majority owners through his Dodgers ownership stakes.

That is what I was thinking as well. I don't think a lot of people realize just how big Magic is in the business world.

Here below is from Wiki is just the past 30 years from Magic's company know as "Magic Johnson Enterprises" 

Business Ventures:

In 1995, Johnson took an equity stake along with what was then the Loews chain in the 12-screen multiplex movie theater in Baldwin Hills (now owned by Cinemark).

The company teamed up with Starbucks in 1998, acquiring around 125 stores and in October 2010 sold 105 of the stores in a $100 million deal.

In March 2008, Johnson signed a multi-year marketing deal to help electronics retailer Best Buy Co. bolster sales in urban neighborhoods.

In October 2010, he sold his 4% interest in the Los Angeles Lakers for an estimated $27 million to Patrick Soon-Shiong.

In 2006, the company made headlines for concluding a deal with Sodexo, one of the largest food services and facilities management companies in the world. The initiative includes a marketing agreement and the formation of SodexoMAGIC, LLC, a new joint venture that is 51 percent owned by Johnson.

In June 2015, the company announced it had acquired a controlling interest in EquiTrust Life Insurance Co.

Sports teams:

Co-ownership of the LA Dodgers was purchased by Magic Johnson Enterprises in 2012 for a reported $2 billion.

In 2014, Johnson led the purchase of WNBA team, Los Angeles Sparks with Guggenheim Partners. The same year, he became part owner of MLS team, Los Angeles FC.

In 2023, Magic Johnson Enterprises, along with a group of others, purchased the Washington DC–based NFL team Washington Commanders for $6.05 billion.

In September 2024, Johnson invested in Washington DC–based National Women's Soccer League (NWSL) club, Washington Spirit.

[bugatti]

18 hours ago, No Hiding Here....BC 21 said:

Anyone else see Magic taking a high front office job soon?  He's already in with the new majority owners through his Dodgers ownership stakes.

“High front office” as in related to player personnel? He’s been there and done that (and frankly has sucked at it).