Lakers legend Magic Johnson recently celebrated the monumental $10 billion agreement to sell the Los Angeles Lakers to Dodgers owner Mark Walter, marking the largest sale ever for a sports franchise. The deal ends the Buss family’s ownership of the iconic NBA team, which began in 1979 when Jerry Buss acquired the franchise, along with the NHL Kings and the Los Angeles Forum, for $67.5 million. In his comments on the sale, Johnson not only praised the transaction but also took a playful jab at the rival Boston Celtics.
In a post on X, Johnson, a minority stakeholder in the Dodgers, lauded the deal orchestrated by Jeanie Buss, president of the Lakers. “Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the @Lakers legacy and tradition of winning,” he wrote. He then seized the opportunity to highlight the Lakers’ valuation compared to the Celtics’ recent $6 billion sale in March, adding, “Just like I thought, when the Celtics sold for $6B, I knew the Lakers were worth $10B!”
Johnson’s comments reflect the longstanding rivalry between the Lakers and Celtics, two of the NBA’s most storied franchises. His lighthearted dig underscores the pride he takes in the Lakers’ superior valuation, reinforcing the team’s prestige in the sports world.
Expressing confidence in the buyer, Johnson described Mark Walter, his business partner and friend through their shared Dodgers ownership, as the ideal steward for the Lakers’ legacy. “Mark Walter is the best choice and will be the best caretaker of the Laker brand,” Johnson wrote. He pointed to Walter’s successful track record with the Dodgers, who have secured two World Series titles and 11 NL West divisional titles in the last 12 years under Walter’s leadership. In a follow-up post, Johnson emphasized Walter’s commitment to “winning, excellence, and doing everything the right way.”
Walter’s extensive sports portfolio, which includes the Dodgers, Spark, the Cadillac Formula 1 team, a minority stake in BlueCo (which controls Premier League club Chelsea), and financial backing for the Professional Women’s Hockey League, further bolsters Johnson’s optimism. “He will put in the resources needed to win!” Johnson wrote, noting similarities between Walter and Jeanie Buss. “They are competitive people, have big hearts, love to give back, and both prefer to be behind the scenes. This makes all the sense in the world.”
The sale marks the end of an era for the Buss family, who have steered the Lakers to numerous championships and cemented the team’s status as a global brand. Johnson’s enthusiasm for the transition reflects his belief that Walter will uphold the franchise’s tradition of success. “I am so so SO happy and excited for @Lakers fans all over the world!!” he concluded.
As the Lakers embark on this new chapter with a historic $10 billion valuation, Johnson’s words capture both the pride of the franchise’s legacy and the excitement for its future under Walter’s leadership—while sneaking in a cheeky jab at their rivals in Boston.