Multiple NBA Executives Believe Lakers Sale Will Correct Team's Biggest Issue

There is no doubt that the Los Angeles Lakers are one of the most popular sports teams in the world. 

But the franchise has built its brand while under the ownership of the Buss family for nearly half a century. And the NBA has drastically evolved since Jerry Buss bought the Lakers for $67.5 million in 1979.

Rather than running like family businesses, most NBA teams are owned by tech and hedge fund billionaires, who often have access to outside resources that help fund these teams. Meanwhile, the Lakers are solely funded by revenue generated by the team.

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Although the Lakers’ local television rights deal with Spectrum – which pays the franchise $3 billion over a 20-year period – have helped Los Angeles thrive, the recent sale will further boost the Lakers’ brand.

"This is a good move," one league source who has frequent interactions with the Lakers franchise told ESPN. "The Lakers can finally be run like a real business."

The Buss family reportedly sold the Lakers franchise to Los Angeles Dodgers chairman Mark Walter for $10 billion. Jeanie Buss will continue her role as the franchise's governor.

Walter has owned the Dodgers since 2012 and grown the franchise’s brand overseas, especially in Japan. The Dodgers have also made the postseason every year and won two World Series titles since he purchased the franchise.

Like many other NBA franchise owners, Walter is involved with several sports businesses like the Los Angeles Sparks, the Professional Women’s Hockey League, Chelsea FC and the Cadillac Formula 1 team.

With the transition of ownership, the Lakers franchise is evolving alongside other NBA teams like the Los Angeles Clippers.

"Look at the guy across town from them," another league source said to ESPN.

Steve Ballmer, who is the largest individual shareholder of Microsoft, purchased the Clippers for $2 billion in 2014. 

Even though the Clippers have either missed the playoffs or been eliminated in the first round eight times since Ballmer’s purchase, the franchise now has their own stadium at Intuit Dome.

Given how popular the Lakers brand already is, Walter’s ownership will likely skyrocket the franchise’s marketability and value.

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For more news and notes on the Los Angeles Lakers, visit Los Angeles Lakers on SI.