Canzano: Lakers sell -- would Tom Dundon 'flip' the Trail Blazers?
Lakers sell for $12.5 billion.
I’ve wondered for a while how much of Tom Dundon’s own money is actually in the Trail Blazers. The financials are a little fuzzy. But the unexpected sale of the Los Angeles Lakers raised an interesting question.
Would Dundon flip the Blazers?
Hold that thought.
One of my favorite TV characters from “The Wire” — a character nicknamed Proposition Joe — had a fun saying: “Buy it for a dollar, sell it for two.”
Mark Walter, the Lakers owner, didn’t quite do that with his $10 billion investment. He sold his stake for $12.5 billion, though, raking in a quick $2.5 billion profit that will may help him wiggle out of the legal chokehold of the Justice Department.