The Big Lead

Magic Johnson breaks silence on Buss family selling Lakers for $10 billion

The chairman of Los Angeles' original Major League Baseball team is reportedly in agreement to take over the city's NBA entry as well. 

By J.P. Hoornstra

Earvin "Magic" Johnson, Jeannie Buss, Gianna Bryant, Vanessa Bryant, Kobe Bryant holding Bianka Bryant, Natalia Bryant and Rob Pelinka pose for photos during a halftime ceremony retiring Kobe Bryant's two uniform numbers at Staples Center on Dec. 18, 2017.
Earvin "Magic" Johnson, Jeannie Buss, Gianna Bryant, Vanessa Bryant, Kobe Bryant holding Bianka Bryant, Natalia Bryant and Rob Pelinka pose for photos during a halftime ceremony retiring Kobe Bryant's two uniform numbers at Staples Center on Dec. 18, 2017. / Robert Hanashiro-Imagn Images
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Magic Johnson officially became a minority owner of the Los Angeles Dodgers in 2012, when his group — a consortium led by Guggenheim Partners co-founder Mark Walter — purchased the team out of bankruptcy.

Wednesday, the Buss family entered into an agreement to sell the Los Angeles Lakers to Walter.

MORE: Dodgers make stunning Shohei Ohtani announcement

Johnson, who helped put the Lakers on the map as a national brand decades ago, reacted to the news Wednesday via Twitter/X.

"Laker fans should be estatic," Johnson wrote on Twitter/X. "A few things I can tell you about Mark - he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win!

"I can understand why Jeanie sold the team to Mark Walter because they are just alike - they are competitive people, l have big hearts, love to give back, and both prefer to be behind the scenes," Johnson continued. "This makes all the sense in the world. I am so so SO happy and excited for @Lakers fans all over the world!!"

Johnson, along with Walter and other partners in Guggenheim Baseball Management, also purchased the Los Angeles Sparks of the WNBA in 2014.

News that the Buss family will relinquish control of the team they have owned since 1974 came as a shock to many. Having Johnson's blessing, while not a surprise, might help Walter ease some who are skeptical about the transition.

"Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the legacy and tradition of winning - Mark Walter, my business partner and friend!" Johnson wrote on Twitter/X. "Mark Walter is the best choice and will be the best caretaker of the Laker brand. The proof is in the pudding on what he’s been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner notching 2 World Series and 11 NL West divisional titles in the last 12 years!"

"I know that my sister Jeanie would have only considered selling the Lakers organization to someone she knows and trusts would carry on the Buss legacy, started by her father Dr. Buss," Johnson continued. "Now she can comfortably pass the baton to Mark Walter, with whom she has a real friendship and can trust. She’s witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers team, organization, and fans!

"Both are extremely intelligent, visionaries, great leaders, and have positively impacted the greater Los Angeles community! I love both my sister @JeanieBuss and my business partner Mark Walter."

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