Lakers Sale Notes: Walter, Buss, LeBron, Doncic
The sale of the Lakers to Los Angeles sports mogul Mark Walter should signal a change in the way the franchise operates, writes Mike Vorkunov of The Athletic. The record-setting deal, which includes an approximate $10 billion valuation for the franchise, will end more than four decades of control for the Buss family.
Despite their position as one of the NBA’s glamour teams, Vorkunov points out that the Lakers haven’t always been run that way. He states that many of the owners who’ve entered the league in the past few years are more aggressive about investing in high-priced front office and coaching hires and that L.A.’s basketball operations department isn’t as large or free spending as some of the small-market teams.
Vorkunov expects Walter to adopt a different approach based on his stewardship of the Dodgers, who have used an enormous payroll to become an MLB powerhouse. They’re projected to spend $476MM this season in payroll and luxury tax, and they invest heavily to bring in top-notch talent throughout the organization.
“A key difference between baseball and basketball is that you can’t simply outspend everyone on payroll the way the Dodgers do,” an NBA executive told Vorkunov. “But what most people overlook is how much the Dodgers invest beyond just players. They spend at an elite level on infrastructure: front office talent, analytics and player development. Each area is essentially run by a GM-level executive, enabling them to retain top-tier personnel across the board.”
There’s more on the sale of the Lakers:
- The purchase agreement ensures that Jeanie Buss will retain her role as governor and will keep running the team for “at least a number of years,” sources tell Ramona Shelburne of ESPN (Twitter link). Her sources add that Walter gave his full endorsement to the arrangement, noting that he and Buss have built a strong relationship, especially since he became a minority owner in 2021. Shelburne adds that it’s a different situation that Mark Cuban faced in Dallas, where he didn’t get to keep the operational control he expected after his sale of the team was finalized (Twitter link).
- The Buss family intends to hang onto a minority stake in the franchise worth just over 15%, per Shams Charania of ESPN. NBA bylaws require a stake of at least 15% in order for Jeanie to continue serving as governor, as Marc Stein and Jake Fischer of The Stein Line note (Substack link).
- LeBron James is “comfortable” with the impending sale, Vorkunov and other Athletic reporters add in a separate story. Luka Doncic, who is eligible for a $229MM extension, shared his excitement about the deal on social media. “The Lakers are an amazing organization,” he tweeted. “I’m looking forward to meeting Mark and excited about the future. I am also grateful to Jeanie and the Buss family for welcoming me to LA, and I’m happy that Jeanie will continue to be involved. I look forward to working with both of them to win championships!”
- Mark Medina of RG notes that Buss talked 10 years ago about having the family control the team “forever.” He looks at what has happened over the past decade to make them change their minds.
Buss Family To Sell Lakers To Mark Walter For Record-Setting Price
4:11 pm: Walter has agreed to buy the Lakers at a valuation of approximately $10 billion, the largest sum ever for a professional sports team, Charania reports (via Twitter).
3:52 pm: The Buss family has reached an agreement to sell its majority stake in the Lakers to Mark Walter, sources tell Shams Charania of ESPN (Twitter link).
Walter, 65, is the CEO of Guggenheim Partners, a global investment firm, and co-CEO and chairman of TWG Global, a diversified holding company.
Walter, who also owns the Los Angeles Dodgers (MLB) and Los Angeles Sparks (WNBA), among sports investments, is currently a minority owner of the Lakers, having purchased a 27% stake in 2021 alongside Todd Boehly.
According to Charania, current governor Jeanie Buss will continue to serve in that role after the sale is finalized.
As Ramona Shelburne of ESPN tweets, Walter earned the right of first refusal to purchase majority control of the Lakers in 2021 when he bought his minority stake. The Buss family owns about 66% of the team, per Shelburne.
Longtime owner Jerry Buss purchased the Lakers for $67.5MM back in 1979, according to Charania, who notes (via Twitter) that his children inherited majority control when Buss passed away in 2013.
ESPN’s Tim Bontemps believes the Lakers’ sale price will exceed the Celtics’ record-breaking valuation of $6.1 billion (Twitter link). Boston’s new ownership group is expected to be approved sometime in June or July.
California Notes: Camper, Terrell, Bleijenbergh, Lakers
The Kings have a workout scheduled for this Tuesday with Siena College swingman Manny Camper, writes Jason Anderson of the Sacramento Bee. Camper averaged 14.1 PPG and 9.7 during 2020/21, his senior season.
Anderson notes that Camper was the Metro Atlantic Athletic Conference (MAAC) Men’s Basketball Player of the Year. Camper was also a two-time All-MAAC First Team honoree during his NCAA tenure. According to Anderson, Camper has been described by coaches and staff at Siena as a “high character individual” and a “consummate selfless team leader.”
The Kings currently possess the No. 9 overall pick and the No. 39 pick in the 2021 draft. While he’s not expected to be drafted this season, Camper could make for an intriguing addition to the Kings’ Summer League roster, Anderson writes.
There’s more out of California:
- The Kings worked out Sacramento native Christian Terrell, a Sacramento State alum who also attended Sacramento High School, per Sean Cunningham of ABC10 (KXTV) Sacramento (Twitter link). “It felt good to work out for your home team,” Terrell, a 6’5″ guard, said. “Just getting to experience what it’s like being inside Golden1 was a blessing and I am super grateful the Kings organization reached out to me and allowed me to work out.”
- Intriguing Belgian pro Vrenz Bleijenbergh is scheduled to work out with the Kings on Monday, as Jason Anderson of the Sacramento Bee details. The 6’11” swingman most recently played for the Antwerp Giants, and Anderson notes that the league currently views him as a potential second-round prospect. Anderson adds that Bleijenbergh was recently honored as a Pro Basketball League Rising Star selection.
- More recent Los Angeles championship pedigree is arriving for the Lakers. Dodgers owners Mark Walter and Todd Boehly have officially bought out minority owner Phil Anschutz‘s 27% stake in the club, per a team press release. Under the stewardship of Walter and Boehly, the Dodgers won their first title in 32 years during the 2020 MLB season.
Lakers Notes: Third Star, Schröder, K. Walker, Sale
Adding a third star this summer won’t be easy for the Lakers, even if there are a few on the market, writes Kyle Goon of The Orange County Register. L.A.’s season was derailed by injuries to LeBron James and Anthony Davis, showing the need for another elite player, but the team may not have enough valuable assets to offer.
The Lakers own the 22nd pick in this year’s draft, but don’t have another tradable first-rounder until 2027. They’ve still got their selections in 2023 and 2025, but are limited by the league rule preventing future first-round picks from being traded in back-to-back years.
Goon cites the Trail Blazers‘ Damian Lillard and the Sixers‘ Ben Simmons as players who might be available, but he isn’t convinced that the Lakers can match salaries with a competitive offer, which would mean sending $31.4MM to Portland or $24.5MM to Philadelphia. Kentavious Caldwell-Pope and Kyle Kuzma will each make $13MM next season, but a package with them and the two draft picks may not be the best deal the Sixers can get. The Lakers could have another trade chip if Montrezl Harrell opts in at $9.7MM, but that still may not be enough for Philadelphia.
Getting the Blazers to trade Lillard for a similar package seems nearly impossible, and Goon sees L.A.’s best chance as a sign-and-trade involving Dennis Schröder. However, Schröder has expressed a desire to re-sign with the Lakers and there’s no guarantee that Portland would want him in return for Lillard.
There’s more from L.A.:
- Schröder is expecting to get offers in the range of $100MM to $120MM in free agency, VP of the German Basketball Federation Armin Andres said, according to TalkBasket. Andres confirms that Schröder isn’t playing for Germany this summer because the cost of insuring his future earnings is too high.
- The Lakers and Clippers will be the most interested teams in acquiring Kemba Walker from the Thunder, ESPN’s Zach Lowe said on his latest podcast (hat tip to Justin Leger of Yahoo Sports). Walker, who was traded from the Celtics last month, was plagued by knee problems all season and still has two years and nearly $74MM left on his contract.
- The NBA’s board of governors gave unanimous approval to the sale of 27% of the Lakers to Todd Boehly and Mark Walter, according to Scott Soshnick of Sportico. The deal is expected to be finalized next week.
Pacific Notes: Anschutz, Vogel, Leonard, Bagley
Philip Anschutz has agreed to sell his 27% stake in the Lakers, Dan Woike of the Los Angeles Times confirms. Anschutz is the founder of AEG and owns the team’s arena, the Staples Center. Dodgers owners Mark Walter and Todd Boehly are making the purchase and the transaction values the Lakers at about $5 billion, Scott Soshnick of Sportico reports.
The sale of Anschutz’s stake in the Lakers, which is the largest outside of the Buss family, has to be approved by the league’s Board of Governors. Anschutz also owns of the NHL’s Kings and the MLS’ Galaxy. A major long term question is whether Anschutz’s first right to purchase, should the Buss family ever want to sell its majority stake, will transfer to the two buyers, Ramona Shelburne of ESPN tweets.
According to the Sportico report, the buyers will get those transfer rights.
We have more from the Pacific Division:
- Frank Vogel is entering the final year of his three-year contract with the Lakers and some members of the organization are surprised he hasn’t already received an extension, according to Kyle Goon of the Orange County Register. Vogel could also face numerous staff changes since Jason Kidd, who has agreed to be the head coach of the Mavericks, could take several assistants with him to Dallas, Goon adds.
- Kawhi Leonard has not appeared in the Western Conference Finals and will miss Game 4 on Saturday due to a knee injury, but he’s been a major presence off the court, Kurt Helin of NBC Sports notes. Leonard and another injured Clippers player, Serge Ibaka, have been dispensing advice during games and practices. “Kawhi and Serge both have been great… Kawhi is just more, you know, everything: offense, defense, moving the basketball, how we can attack certain matchups, defensively how we can do different things on certain players,” Clippers coach Tyronn Lue said. “So, he’s always engaged on both ends.”
- Marvin Bagley III‘s future with the Kings remains up in the air and he’s facing a social media backlash from Sacramento fans, according to James Ham of NBC Sports Bay Area. Bagley liked a tweet that stated, “We’ve got to get @MB3Five outta Sac man.” After a negative reaction from fans, Bagley removed any mention of the Kings from his bio on both Twitter and Instagram. Sacramento has already picked up Bagley’s $11.3MM option for next season but he’ll be eligible for free agency next summer.