Magic Johnson congratulates Jeanie Buss on $10 billion sale
The post Magic Johnson congratulates Jeanie Buss on $10 billion sale appeared first on ClutchPoints.
The Los Angeles Lakers created ripple effects across the NBA and sports world Wednesday. The Lakers got sold for $10 billion. Jeanie Buss helped make the sale happen — which led to a response from Magic Johnson.
Advertisement
The five-time NBA Finals champion reacted to the blockbuster move. Johnson offered his congrats via X (formerly Twitter) despite fans becoming stunned the Lakers belong to a new owner.
'I just talked to my sister Jeanie Buss to tell her congratulations, and that I'm so happy for her and family,' Johnson said.
He added how Buss's late father, Jerry, would've reacted proudly.
'I told her that her dad Dr. Buss would be very proud of her for getting $10B for the Lakers, the largest sports franchise sale in history!' Johnson said.
Who takes over the Lakers now following Jeanie Buss move?
Jayne Kamin-Oncea-Imagn Images
ESPN NBA insider Shams Charania confirmed the historic move. Plus who now gets the franchise.
Advertisement
'BREAKING: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN,' Charania posted on X.
Does this mean Buss is going away from the Lakers? Charania included what's next for her.
'Jeanie Buss will continue to serve in her role as Governor after the sale,' Charania said.
Walter is a fixture already in the City of Angels. He became a part of the Lakers' stake in 2021 as a minority stakeholder. He's shared ownership interest in other L.A. sports teams — a la the Dodgers and the WNBA's Sparks. Walter is controlling owner of the defending World Series champion Dodgers. Johnson endorsed Walter as the next Lakers owner.
Advertisement
Jeanie Buss first took over the team in 2013 following her father's passing. Dr. Buss rose as the architect behind the 'Showtime Lakers' dynasty of the 1980s that featured Johnson. Walter can now build a new era of Lakers basketball.
Related: 10 things you need to know about Lakers' new majority owner Mark Walter
Related: Sorry Lakers, Dave Roberts is keeping Shohei Ohtani in Dodgers blue
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Washington Post
30 minutes ago
- Washington Post
Springs leads Athletics to 5-1 win over Guardians
WEST SACRAMENTO, Calif. — Jeffrey Springs allowed three hits in a season-high 7 1/3 innings, rookie Nick Kurtz homered for a third straight game and the Athletics beat the Cleveland Guardians 5-1 on Friday night. Springs (6-5) struck out six and walked one, throwing 104 pitches for his first win since May 13. He left with a 4-1 lead after giving up Angel Martínez's homer.
Washington Post
30 minutes ago
- Washington Post
Bayern Munich advances in the Club World Cup with 2-1 win over Boca Juniors
MIAMI GARDENS, Fla. — Michael Olise fired Bayern Munich into the knockout stages of the Club World Cup, scoring in the 84th minute for a 2-1 win over Boca Juniors on Friday night. German champion Bayern made it two wins in Group C and advanced to the round of 16 with a game to spare. Olise secured the victory at Hard Rock Stadium after Miguel Merentiel had put Boca in position for a draw with a brilliant solo goal in the 66th. Bayern, which tops the group, took the lead on Harry Kane's clinical finish in the 18th and went on to miss of a slew of chances before Merentiel's equalizer. South American teams had been unbeaten in their first nine games of this expanded Club World Cup. Bayern looked like it would be held until Olise's cool finish. Collecting Kane's layoff inside the box, the forward curled a powerful first-time effort low into the bottom corner. Bayern has the luxury of resting players for its final group game against second-place Benfica on Tuesday, which could be bad news for Boca. Argentine giant Boca, which plays Auckland City, needs Bayern to beat Benfica to have any chance of advancing to the next round. 'We knew it wasn't going to be easy, we knew we were coming into a hostile environment, hot weather, it was tough. It's a massive tournament. We are playing against the best teams in the world. We just have to compete to our highest level and we should be able to beat most teams.' — Kane. 'We have to find a way (to advance). A draw would've been great but it's up to us to compete and do our best and I would not be surprised if that happened.' — Boca Juniors coach Miguel Angel Russo. ___ James Robson is at ___ AP soccer:
Yahoo
32 minutes ago
- Yahoo
Trump and TSMC pitched $1 trillion AI complex — SoftBank founder Masayoshi Son wants to turn Arizona into the next Shenzhen
When you buy through links on our articles, Future and its syndication partners may earn a commission. Masayoshi Son, founder of SoftBank Group, is working on plans to develop a giant AI and manufacturing industrial hub in Arizona, potentially costing up to $1 trillion if it reaches full scale, reports Bloomberg. The concept of what is internally called Project Crystal Land involves creating a complex for building artificial intelligence systems and robotics. Son has talked to TSMC, Samsung, and the Trump administration about the project. Masayoshi Son's Project Crystal Land aims to replicate the scale and integration of China's Shenzhen by establishing a high-tech hub focused on manufacturing AI-powered industrial robots and advancing artificial intelligence technologies. The site would host factories operated by SoftBank-backed startups specializing in automation and robotics, Vision Fund portfolio companies (such as Agile Robots SE), and potentially involve major tech partners like TSMC and Samsung. If fully realized, the project could cost up to $1 trillion and is intended to position the U.S. as a leading center for AI and high-tech manufacturing. SoftBank is looking to include TSMC in the initiative, given its role in fabricating Nvidia's AI processors. However, a Bloomberg source familiar with TSMC's internal thinking indicated that the company's current plan to invest $165 billion in total in its U.S. projects has no relation to SoftBank's projects. Samsung Electronics has also been approached about participating, the report says. Talks have been held with government officials to explore tax incentives for companies investing in the manufacturing hub. This includes communication with Commerce Secretary Howard Lutnick, according to Bloomberg. SoftBank is reportedly seeking support at both the federal and state levels, which could be crucial to the success of the project. The development is still in the early stages, and feasibility will depend on private sector interest and political support, sources familiar with SoftBank's plans told Bloomberg. To finance its Project Crystal Land, SoftBank is considering project-based financing structures typically used in large infrastructure developments like pipelines. This approach would enable fundraising on a per-project basis and reduce the amount of upfront capital required from SoftBank itself. A similar model is being explored for the Stargate AI data center initiative, which SoftBank is jointly pursuing with OpenAI, Oracle, and Abu Dhabi's MGX. Melissa Otto of Visible Alpha suggested in a Bloomberg interview that rather than spending heavily, Son might more efficiently support his AI project by fostering partnerships between manufacturers, AI engineers, and specialists in fields like medicine and robotics, and by backing smaller startups. However, she notes that investing in data centers could also reduce AI development costs and drive wider adoption, which would be good for the long term for AI in general and Crystal Land specifically. Nonetheless, it is still too early to judge the outcome. The rumor about the Crystal Land project has emerged as SoftBank is expanding its investments in AI on an already large scale. The company is preparing a $30 billion investment in OpenAI and a $6.5 billion acquisition of Ampere Computing, a cloud-native CPU company. While these initiatives are actively developing, the pace of fundraising for the Stargate infrastructure has been slower than initially expected. SoftBank's liquidity at the end of March stood at approximately ¥3.4 trillion ($23 billion). To increase available funds, the company recently sold about a quarter of its T-Mobile U.S. stake, raising $4.8 billion. It also holds ¥25.7 trillion ($176.46 billion) in net assets, the largest portion of which is in chip designer Arm Holdings. Such vast resources provide SoftBank with room to secure additional financing if necessary, Bloomberg notes Follow Tom's Hardware on Google News to get our up-to-date news, analysis, and reviews in your feeds. Make sure to click the Follow button.
