Magic Johnsons Prediction on Lakers Sale: I Knew They Were Worth $10B

Earvin "Magic" Johnson, a Hall of Famer and part of the ownership group of the Los Angeles Dodgers alongside Mark Walter, couldn't contain his excitement when news broke that the Los Angeles Lakers were being sold for a record-breaking $10 billion. The deal, which sees the Buss family selling majority ownership of the franchise to Walter, is one of the largest sports purchases in history. The sale comes just a few months after the Boston Celtics were sold for $6.05 billion, and Johnson had predicted the Lakers' value would be even higher. "Just like I thought, when the Celtics sold for $6B, I knew the Lakers were worth $10B!" he tweeted in response to the news. Johnson raved about the purchase on X, writing that "Laker fans should be [ecstatic]. A few things I can tell you about Mark - he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win! I can understand why Jeanie sold the team to Mark Walter because they are just alike - they are competitive people, have big hearts, love to give back, and both prefer to be behind the scenes. This makes all the sense in the world." In another post, Johnson praised Jeanie Buss, noting that she entrusted the legendary franchise to the right person in Walter. "I know that my sister Jeanie would have only considered selling the Lakers organization to someone she knows and trusts would carry on the Buss legacy, started by her father Dr. Buss. Now she can comfortably pass the baton to Mark Walter, with whom she has a real friendship and can trust," he wrote. Jerry Buss purchased the Lakers for $67.5 million in 1979. Under the Buss family's ownership, the Lakers won 11 of their 17 titles. After Buss' death in 2013, Jeanie took over as Lakers governor. While Walter will own the majority of the franchise, the Buss family will retain a minority stake, and Jeanie will remain as the governor of the Lakers. In addition to the Dodgers, Walter's business portfolio includes stakes in the Los Angeles Sparks (WNBA), Andretti Global (racing), and soccer clubs Chelsea FC and RC Strasbourg. The sale of the Lakers marks a new chapter in their storied history, and with Walter at the helm, fans can expect a new era of excellence and success for one of the most iconic teams in sports history.