Magic Johnson Breaks Silence on Buss Family’s Stunning Lakers Sale!

Ownership of the Los Angeles Lakers is about to change hands.

It was announced on Wednesday that Jeanie Buss, whose family has controlled the Lakers since 1979, is preparing to transfer a significant portion of the team’s shares to Mark Walter, CEO of TWG Global.

This development took many in the basketball community by surprise, particularly due to the team being valued at a staggering $10 billion, a record-breaking figure for any sports team.

Following the announcement, Lakers icon Magic Johnson shared his thoughts on the transaction. Johnson, who has maintained a lifelong association with the team, serving as a player, part-owner, and executive, has worked extensively with Buss, particularly while he was the president of basketball operations from 2017 to 2019.

Johnson is also well-acquainted with Walter, sharing investment interests in the Los Angeles Dodgers. He expressed that the deal was perfectly suited for both parties involved.

“A hearty congratulations to my sister Jeanie Buss for orchestrating an outstanding deal and choosing the ideal successor to uphold the Lakers’ legacy of excellence—Mark Walter, my business partner and friend! Mark is undoubtedly the right person to steward the Lakers brand,” Johnson stated in a social media post, also mentioning the successes achieved by the Dodgers under Walter’s ownership.

“I am certain that Jeanie would only have considered handing over the Lakers to someone she believed would honor and continue the legacy established by her father, Dr. Buss,” Johnson continued. “She can now confidently pass the torch to Mark Walter, a trusted friend and partner.”

While the future impact of this ownership transition on the Lakers remains to be seen, Johnson appears optimistic about the team’s prospects under its new leadership.

More NBA Coverage on Sports Illustrated