magic johnson bill simmons
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Earlier this week, the Los Angeles Lakers became the most expensive sports team in history as they were sold to a group led by Guggenheim Partners CEO Mark Walter for $10 billion. Walter, 65 years old, previously owned 20 percent of the Lakers before purchasing a majority share.
The $10 billion that the Buss Family received for the Los Angeles Lakers after 45 years of ownership dwarfs the $6.1 billion paid for the Boston Celtics last year and the $6.05 billion for the Washington Commanders a few years back.
As for Mark Walter, he’s made a name for himself in the sports world by being the principal owner of the routinely dominant Los Angeles Lakers, while also owning the newly founded Cadillac F1 team and a minority stake in Chelsea Football Club.
After the news of the Lakers sale was reported, franchise icon Magic Johnson took to social media to banally react to the news as he so famously does, which apparently ruffled the feathers of die-hard Boston sports fan and media mogul Bill Simmons.
“Just like I thought, when the Celtics sold for $6B, I knew the Lakers were worth $10B!” Magic said in reaction to the news.
“We’ll have to settle for having six more championships 😭😭😭,” Simmons snarkily replied.
We’ll have to settle for having six more championships. 😭😭😭
— Bill Simmons (@BillSimmons) June 18, 2025
Committing to his bit (?) of being an unapologetic Boston guy who hate anything and everything Lakers-related, Bill Simmons followed up in a separate tweet to say that the money the Buss family has made on the Lakers isn’t all that impressive.
“The Buss fam owned 66% of Lakers / Walter’s side owned 27% / Randoms owned 7%. Walter offered 4.8b for 48% more (10b valuation). Buss fam said yes, kept 18%. So Walter’s side paid 1.35b in 2021 for 27%, then 4.8b for 48% = 6.15b total for a 75% majority. It’s not that crazy,” the former sports writer and podcasting pioneer reasoned.
The Buss fam owned 66% of Lakers / Walter’s side owned 27% / Randoms owned 7%.
Walter offered 4.8b for 48% more (10b valuation). Buss fam said yes, kept 18%.
So Walter’s side paid 1.35b in 2021 for 27%, then 4.8b for 48% = 6.15b total for a 75% majority.
It’s not that crazy.
— Bill Simmons (@BillSimmons) June 19, 2025
The recent sales of the Commanders, Celtics and Lakers essentially prove that if you’re interested in owning a professional sports team in one of the major American sports leagues, it’s likely going to cost you at least $5 billion.