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Buss Family Agrees to Sell Lakers Majority to Mark Walter at $10 bil Valuationwww.espn.com/nba/story/_/id/45539931/buss-family-agrees-sell-lakers-mark-walter-sources-say
508 sats \ 20 comments \ @Cje95 18h Stacker_Sports
WHAT A MOVE OUT OF LEFT FIELD! I AM NOT SURE WHO SAW THIS COMING IN THE SLIGHTEST BUT HOLY CRAP TO SEE ONE OF THE MOST STORIED SPORTS FRANCHISES IN THE US SELL SO QUICKLY AND OUT OF LEFT FIELD IS WILD.
Walter, the CEO of diversified holding company TWG Global, has interests in multiple professional sports organizations, including the Los Angeles Dodgers, Los Angeles Sparks, the Billie Jean Cup, Cadillac Formula 1 team and the Professional Women's Hockey League.
aka this guy is collecting all the LA sports franchises like trading cards lol
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207 sats \ 17 replies \ @grayruby 18h
They got an 11.5% compound annual growth rate over the 46 years. To be honest seems kind of light considering it is one of the premier sports assets in the world. Around the same return as holding Coca Cola stock over that time period.
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120 sats \ 9 replies \ @Undisciplined 17h
It's probably fair to say that they've managed it less well over the past decade than Coke.
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82 sats \ 8 replies \ @grayruby 17h
Easier to own Coke. More fun to own the Lakers.
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128 sats \ 5 replies \ @Undisciplined 17h
The real returns were the friends they made along the way.
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52 sats \ 4 replies \ @grayruby 17h
Don’t sell your bitcoin to buy an NBA team.
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50 sats \ 3 replies \ @Undisciplined 17h
I probably would if I had enough. Maybe that's my "there will be signs".
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40 sats \ 1 reply \ @Bell_curve 14h
Cocaine is a better investment than Cola
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31 sats \ 0 replies \ @grayruby 14h
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50 sats \ 5 replies \ @SimpleStacker 17h
Does that include all the profits taken by the family over the years, though?
Still, even in terms of just buy/sale price, it seems pretty low all things considered.
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110 sats \ 1 reply \ @Cje95 OP 17h
My understanding is this is a $10 bil at market value right now so you ignore the 46 previous years. Plus the Lakers Buss only spent $16 mil on... $33.5 for the Forum and $8 mil for the LA Kings
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40 sats \ 0 replies \ @Bell_curve 14h
in 1979
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80 sats \ 2 replies \ @grayruby 17h
No just market value. Coke would have paid out dividends too but probably not as much.
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50 sats \ 1 reply \ @Cje95 OP 17h
Well and actually the Lakers themselves were bought for just $16 million. When Buss bought them it was 33.5 for the Forum 16 for the Lakers and 8 for the Kings
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0 sats \ 0 replies \ @grayruby 17h
That’s a good deal then.
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40 sats \ 0 replies \ @Cje95 OP 17h
I would assume that this doesnt include all the profits over the years they have been able to take. Plus if it is just the team then the family still owns the arena....
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0 sats \ 0 replies \ @Bell_curve 12h
Walter has been a stakeholder in the Lakers since 2021, when he purchased Phil Anschutz's share of 26%. That also was when Walter received a right of first refusal on the majority share of the team.
The Buss family will keep a minority share of the team, just over 15%, for a period of time, a source said.
In addition, Jeanie Buss will remain the Lakers' governor and continue to run the team for "at least a number of years," sources with knowledge of the deal told ESPN's Ramona Shelburne. It was guaranteed as part of the agreement that Buss would remain in charge for the foreseeable future, and Walter fully endorsed this plan, according to sources.
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0 sats \ 0 replies \ @BlokchainB 14h
Wow I was thinking it was just a minor stake
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