The Lakers change hands! More than $10 billion hits a record, and the new boss takes the helm of the 300 billion business empire

Los Angeles Lakers are about to be sold...the price is as high as $10 billion 🤑

Shams: Mark Walter acquires a majority stake in the Lakers for $10 billion! Become the largest acquisition transaction in the history of professional sports in the world.

According to ESPN, the Bass family has reached an agreement with Mark Walter, CEO and chairman of diversified holding company TWG Global, to sell most of the Los Angeles Lakers at a valuation of $10 billion. This will become the highest transaction price record for professional sports teams in the world.

After this sale, the Bass family still retained more than 15% of the shares, and Jenny Bass will continue to serve as honorary chairman of the Lakers for several years.

In 1979, Jerry Bass bought the Lakers from Jack Kent Cook for $67.5 million. After Bass died in 2013, the team passed it to his children. Now, the legendary team with 17-time championship titles has changed hands again.

It is worth mentioning that Mark Walter has been a minority shareholder of the Lakers since 2021. Forbes shows that Walter's net worth is $6.1 billion, and its investment map covers multiple professional sports organizations, including the Los Angeles Dodgers, the WNBA's Los Angeles Sparks, Billy Jen Gold Cup events, Cadillac F1 team and the Women's Professional Hockey League. He is also CEO of Partners at the financial investment firm Guggenheim, whose assets are valued at over $325 billion.

What can we say about the Lakers' sale?

Neither thinks this will really happen, at least not so soon.

But we have long known that the Bass family has gradually declined, especially in terms of additional spending, they are no longer able to compete with other team owners.

It may sound crazy to say this, after all, the Lakers are one of the most popular teams in the NBA and are in one of the biggest markets. But in the past few years, the Lakers' salary investment in coaching, managers and other positions has been far lower than their peers, which is a well-known fact.

Of course, the league has set more restrictions on teams that spend money, but it seems that this situation will undergo a major change in the Lakers because huge amounts of capital are pouring in.

As Lakers' legendary Magician said: "Lakes fans should be extremely happy and excited! Lakers' new boss Mark Walter is driven by victory, pursues excellence, and always insists on doing things in the right way, and he is willing to invest all resources to win! I can fully understand that this dealership change can bring the Lakers to an unprecedented new height."

According to Jenny's close friend and ESPN reporter Ramona Shelburne, when the Lakers signed the purchase agreement, they briefly notified Doncic, and suspected that James was not notified.

This is good news for the young Doncic, but not for James.

The Bass family vowed to make James happy at all costs to ensure he retired from the Lakers. The new Lakers will not be so emotional, and James has not renewed his contract next season yet. Perhaps this change in ownership will change the seemingly for sure plan before.

The new Lakers will no longer continue the generous feelings of the Lakers in the past, but will also abandon the destructive loyalties of the past. Victory will be the only goal of the new Lakers, and that's exactly what Jerry Bass understood and emphasized back then. However, it is regrettable that since his death, this belief has gradually been lost.

James has a $52.6 million player option next season, and he needs to decide whether to execute it before June 29 local time.

The big deal follows another sensational deal: Just a few weeks ago, the Boston Celtics sold for a record $6.1 billion, and the buyer is a consortium led by tech investor Bill Chisholm.

The deal is the highest-money sports franchise deal in U.S. history, according to Shams. Chisholm is a lifelong Celtic fan. He said with emotion: "There is green in my blood, and I love the Celtics. When this opportunity appears, I cannot refuse."

His true feelings also highlight the historical significance of this deal.

Now, the two most legendary teams in NBA history have replaced new owners, marking an unprecedented turning point. The Lakers and the Celtics won a total of 35 championships, and these two teams were controlled by the founding family for a long time in the past (Los Angeles are held by the Bass family and Boston is run by the Grussbeck family). The Celtics' $6.1 billion transaction price is far higher than the previous $4 billion of the Suns, and the Lakers' offer is as high as $10 billion. In short: The era of family dynasties is giving way to the era of giant capital groups. Both fans and analysts regard this as an "epoch-making earthquake" in the basketball world.

Although the NBA board of directors still needs to formally approve these transactions, the general trend is determined: the two "wealthy families" are about to open a new chapter. From the "breaking" Lakers news released by Shams to his earlier reports on the Celtics, it can be seen that the NBA has entered an unprecedented new era.

Next, both the team direction and the fans' reaction will become a highly anticipated plot. And now, the entire sports world is witnessing with one's own eyes a story that defines the era is slowly unfolding.

Ps Attached:

NBA teams spent the last time they changed hands! The Lakers ranked first with 10 billion, the Celtics ranked second with 6.1 billion, and the Suns ranked third with 4 billion. After 2023, the teams that changed hands all sold more than 3 billion. Teams like the Pacers, Bulls, Heat changed hands before 1985, with prices of 11 million and 16 million respectively at that time..

#Bass family transfers most equity in Lakers for 10 billion##Lakes set a record of professional sports sales##Lakes has changed#