BREAKING: Magic Johnson Shares What He Told Jeanie Buss After Making Major $10 Billion Lakers Decision
NBA legend Magic Johnson’s relationship with Lakers owner Jeanie Buss spans decades—dating back to 1979, when Johnson was drafted by her father, the late Jerry Buss, former owner of the Lakers.
When Jerry passed away in 2013, ownership of the franchise transitioned to his children, most notably Jeanie, who took the reins of one of the richest and most prestigious organizations in professional sports.
On Tuesday, the staggering value of the Lakers was confirmed as the Buss family made the stunning decision to sell majority ownership of the franchise to Mark Walter, CEO of TWG Global and current owner of both the Los Angeles Dodgers and the Los Angeles Sparks. The deal is reportedly valued at a record-setting $10 billion.
Although Jeanie will remain in her role as Governor following the sale, this marks a monumental shift for a franchise that has been family-run since Jerry Buss purchased it in 1979—the same year Magic Johnson was drafted.
In the wake of the news, Johnson shared his thoughts on the sale. As a minority owner of the Dodgers, he’s well acquainted with Walter, and he revealed what he told Jeanie after she made the historic decision.
"I just talked to my sister Jeanie Buss to tell her congratulations, and that I’m so happy for her and family," Johnson wrote. "I told her that her dad Dr. Buss would be very proud of her for getting $10B for the Lakers, the largest sports franchise sale in history!"
The Lakers have operated their business and organization a specific way since the Buss family purchased the franchise. While that approach helped build an empire and made them one of the most successfully run organizations in all of sports, many feel they’ve been stuck in their ways for quite some time.
For some—including Magic Johnson—this was the perfect moment for change as the franchise looks to the future and begins building around global superstar Luka Doncic.
Los Angeles Lakers Hall of Fame point guard Magic Johnson.
Gary A. Vasquez-Imagn Images
Johnson made it clear that Lakers fans should be thrilled about the direction of the team.
“Laker fans should be ecstatic. A few things I can tell you about Mark [Walter]—he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win! I understand why Jeanie sold the team to Mark Walter—because they are so much alike," Johnson added. "They’re competitive, have big hearts, love to give back, and both prefer to work behind the scenes. This makes all the sense in the world. I am so, so, SO happy and excited for @Lakers fans all over the world!!”