“I’m a bipolar LAKER fan,” Gilbert Arenas once admitted — and honestly, that tracks. He’s never hidden the fact that his loyalty leans more toward ‘the King’ than the crown. So when the news dropped that the Lakers had officially been sold, Arenas didn’t just clap — he chimed in with a classic Arenas twist. He dropped a curveball request to the new owners. Let’s just say… his ask was very on brand.

And while Gilbert was doing what he does best, it’s worth remembering exactly what the Lakers have meant under the Buss family. Let’s be real — the Lakers didn’t just become the Lakers by accident. When the Buss family took over in ’79, they didn’t just run a team — they built a spectacle. From Magic and the birth of Showtime to Kobe’s dynasty and now Luka Dončić in the mix, the purple and gold haven’t just won 11 titles under their watch — they’ve defined eras. Under the Buss legacy, basketball in L.A. has always been larger than life.

Naturally, when that legacy shifted hands, the former Warriors star had some thoughts — and, true to form, he took them straight to Instagram. Gilbert Arenas did what Gilbert Arenas does best — dropped a hilariously chaotic reaction that somehow still made a point. “I wanna say congratulations, Jeanie Buss,” he started, before immediately pivoting into peak Agent Zero mode. “But as selfish as I am, 7 billion dollars, that means he’s about to raise the prices to get it back… and you just hold on about just 12 minutes, so I can renew my tickets at the price that you have them at.”

He wasn’t done. “Because I know the person who spends 7 billion dollars, knows… to go see a look at LeBron. Okay, so just hold on to just 22 minutes so that I can get it in.” Classic Arenas — part congratulations, part panic-buy mode. “But congratulations, again. I’m still gonna be a Lakers fan because it gonna cost me nothing from home. I can still watch the game from home — but I wanna keep my seats, so just tad bit. Hold on, Lakers Nation. You gotta act fast.”

Meanwhile, Lakers legend Magic Johnson also took to X, throwing his full support behind new majority owner Mark Walter. Magic and Walter go way back, with both being co-owners of the WNBA’s Los Angeles Sparks. “Laker fans should be ecstatic,” Magic wrote. “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!” He went on to say, “I can understand why Jeanie sold the team to Mark Walter because they are just alike — they are competitive people, have big hearts, love to give back, and both prefer to be behind the scenes. This makes all the sense in the world. I am so so SO happy and excited for fans all over the world!!”

Lakers enter new era under Mark Walter

The Buss family era — the one that turned the Lakers into a global basketball empire — will soon be over, officially. After owning the team since 1979, the Buss family has agreed to sell a controlling interest in the Lakers to Mark Walter, the CEO of Guggenheim Partners and current owner of the L.A. Dodgers. CBS News Los Angeles confirmed the move, and while Jeanie Buss will remain in her role as governor and continue representing the team in league matters, this is a massive change in power. “We can confirm: Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, of which he has been a stakeholder since 2021,” the team said in a statement.

The sale — reportedly valued at $10 billion according to ESPN — will mark the most expensive sale of a U.S. sports team in history, smashing the previous record set in March when the Boston Celtics were sold for $6.1 billion. It also eclipses the $6.05 billion sale of the NFL’s Washington Commanders in 2023. For context, Forbes listed the average NBA franchise value at $4.4 billion as of November 2024, and CNBC recently ranked the Lakers third overall at $7 billion. Once this deal is official, the Lakers will be the most valuable franchise in sports, nearly $4 billion ahead of the next in line.

So, what does this mean for the Lakers’ future? Well, if Walter’s track record with the Dodgers is anything to go by — like signing Shohei Ohtani to a $700 million contract — spending to win isn’t a concern. But power shifts can get murky. Just ask Mark Cuban, who thought he’d retain control of the Mavericks after selling, only to see decisions happen without him. Jeanie is still governor, but how much influence she’ll keep long term remains to be seen. One thing’s clear: with the Lakers finishing the 2025 season 50-32 and making the playoffs yet again, the foundation is strong. Now, under new leadership, L.A.’s most iconic franchise is heading into a new chapter — one that could reshape the NBA all over again.