The NBA world was shocked to hear about the sale of the Los Angeles Lakers.
Not many people knew the Lakers were for sale, and in a media-centric society, a deal of this magnitude is usually leaked ahead of time.
This was tight-lipped until it ended with Mark Walter buying the team at a valuation of $10 billion.
Walter’s deal broke the record previously set by the Boston Celtics earlier this year, who were purchased at a valuation of $6 billion.
These deals indicate that there’s real money to be had when investing in top markets like Los Angeles and Boston.
After seeing this deal, many people around the NBA had strong reactions on social media, including Lakers legend Magic Johnson.
Johnson commended Jeanie Buss for helping orchestrate the deal from the Lakers’ side, and he congratulated Walter, with whom he has business ties.
Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the @Lakers legacy and tradition of winning – Mark Walter, my business partner and friend! Mark Walter is the best choice and will be the best caretaker of the Laker…
— Earvin Magic Johnson (@MagicJohnson) June 18, 2025
He added that Walter is a great person to help lead the Lakers into the future and is excited to see what’s next for the historic franchise.
LeBron James’ days as a player will eventually come to an end, and there’s only so long he will be the face of the team.
The organization could reach a pivotal point shortly, and new leadership could be what it needs to fast-track success in other ways.
NEXT: LeBron James Has Honest Admission About Retirement
