The Buss family have sold Majority ownership (48%) of the Lakers for $4.8 Billion, Franchise valued at $10 Billion. Family still owns 18% stake.

[EzekelRAGE]

For those that care about the "history" or w/e and insider type shyt. Artemus made an ig story breaking down some stuff.
Im too lazy to screenshot it all and post, so just made a short video. Fullscreen it and pause to read it

 

[Harry Sax]

Sold 48% for 4.8 billion. They now own "only" 18% of the team.

So where they get this 10 billion number from

 

[Harry Sax]

So where they get this 10 billion number from

Ok Nvmd

 

[Rekkapryde]

So where they get this 10 billion number from

Team is worth 10 billion. He bought another 48% for 4.8 billion. He had 27% already, so now he's at 75% and controlling majority stake.

 

[UpAndComing]

The "Not that crazy" part is pure salt, cause who was even saying it was crazy

No doubt Bill Simmons hates the Lakers lol, but the tweet sounded like he's saying "not crazy" in that the Buss Family still own a significant share of the Lakers and they didn't just self off everything to someone else like the media/fans was assuming

 

[Shadow King]

Why are people talking like Magic doesn't already have a piece of the Lakers?

 

[Phantum]

For those that care about the "history" or w/e and insider type shyt. Artemus made an ig story breaking down some stuff.
Im too lazy to screenshot it all and post, so just made a short video. Fullscreen it and pause to read it

This dude always seems to know everything lol. Randomly followed him years ago

 

[Rekkapryde]

Why are people talking like Magic doesn't already have a piece of the Lakers?

He sold his piece a while back.
----
In October 2010, he sold his less than 5% stake to Patrick Soon-Shiong for an estimated $27 million. This stake was initially acquired in June 1994 for a reported $10 million.

 

[EzekelRAGE]

This dude always seems to know everything lol. Randomly followed him years ago

Yea. so much shyt it gotta be a few ppl behind the account. I trust them on most LA/cali shyt though. He/they drops a lot of knowledge when it comes to that. One of the first threads I made on the coli was based on his posts on N.W.A. He was sorta correcting some of the stuff the movie either glossed over or changed. I think he didnt like how they portrayed Eazy E either.

https://www.thecoli.com/threads/the-real-story-of-n-w-a-more-info-about-members-what-caused-the-split.353702/

 

[Shadow King]

He sold his piece a while back.
----
In October 2010, he sold his less than 5% stake to Patrick Soon-Shiong for an estimated $27 million. This stake was initially acquired in June 1994 for a reported $10 million.

540M to 10B in 15 years. Magic fuçked up

 

[EzekelRAGE]

If you believe Windhorst, Saudis now own part of the Lakers through their investment in TWG Global

In late April, TWG Global announced a $15 billion capital raising effort and they wanted to create a fund that they would use to invest in sports. $10 billion of that money was invested by Mubadala Capital. Mubadala is Abu Dhabi. You guys have heard me talk about Abu Dhabi and Abu Dhabi’s deep interest in investing in the NBA and American sport. Mubadala Capital wouldn’t be able to directly buy the Lakers but certainly they couldninvest in something to buy the Lakers. TWG Global has a lot of investors. I’m not saying one piece of money goes to one investment… In their press release from two months ago, they said that they planneed to “build up sizable stakes in a range of sports assets in the years leading up to this investment.” So, they announced a $15 billion raise with $10 billion from Abu Dhabi to invest in sports assets. Two months later, they buy the Lakers for $10 billion. I’m just pointing that out.

 

[10bandz]

This dude always seems to know everything lol. Randomly followed him years ago

Yeah he's a real LA insider.

 

[Harry B]

540M to 10B in 15 years. Magic fuçked up

Crazy his stake would almost be worth what the whole team was in 2010 if he sat on it

 

[EzekelRAGE]

Crazy his stake would almost be worth what the whole team was in 2010 if he sat on it

 

[DaRock]

You mean be an idiot like Matt Ishbia and make horrible trades that ruin the team on the court that puts the Lakers in the 2nd apron repeater tax where they will be totally fukked, got it

The Lakers are just a big and back up wing away from contending..
So let me guess rebuild from the ground up
Luka is still unsigned long term
But again you know what new owners will do..compare the Lakers to the Suns