The Los Angeles Lakers will soon be under new ownership.
On Wednesday, news broke that Jeanie Buss, whose family has owned the Lakers since 1979, was set to sell off a majority stake of the franchise to TWG Global CEO Mark Walter.
The news came as a shock to the basketball world, as did the team’s valuation of $10 billion, which set a new record price for a sports franchise.
Soon after news of the sale made waves, Lakers legend Magic Johnson weighed in on the move. Johnson has been close with the franchise for the entirety of his career, first as a player, then as a part owner, and later as an executive, working closely with Buss while he served as the team’s president of basketball operations from 2017 to ‘19.
Johnson also knows Walter well, as both hold financial stakes together in the Los Angeles Dodgers. Johnson, holding good relationships with both sides of the record-setting deal, seemed to think it was a perfect match.
“Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the 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 brand,” Johnson wrote in a post on social media, going on to cite the success the Dodgers have seen during Walter's tenure as owner.
“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,” Johnson added. “Now she can comfortably pass the baton to Mark Walter, with whom she has a real friendship and can trust.”
Time will tell how the ownership change plays out for the Lakers, but Johnson seems pretty confident that the future is bright for the franchise.
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This article was originally published on www.si.com as Magic Johnson Weighs in on Buss Family's Shocking Lakers Sale.
