Blockbuster Lakers, Nuggets Trade Proposed After Team's Sale
Blockbuster Lakers, Nuggets Trade Proposed After Team's Sale originally appeared on The Spun.
For the first time since 1979, the Los Angeles Lakers will no longer be owned by the Buss family. And according to reports, the team's new ownership wants to make some big moves.
Advertisement
The storied NBA franchise sold on Wednesday for $10 billion to TWG Global CEO Mark Walter — who also has ownership stakes in the LA Dodgers, Los Angeles Sparks and the PWHL (among other ventures).
Walter has reportedly been a stakeholder in the Lakers since 2021 and received a cosign from team legend and business partner Magic Johnson following the sale.
Apr 22, 2025; Los Angeles, California, USA; General view of the arena during the fourth quarter of game two of first round for the 2024 NBA Playoffs between the Los Angeles Lakers and the Minnesota Timberwolves at Crypto.com Arena. Mandatory Credit: Kiyoshi Mio-Imagn Images© Kiyoshi Mio-Imagn Images
"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!" Magic posted to X.
"I can understand why Jeanie sold the team to Mark Walter because they are just alike - they are competitive people, l 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 @Lakers fans all over the world!!"
Advertisement
With the dust still settling on the Lakers' agreement, the folks over at FanDuel cooked up a potential trade proposal for LA to land the best player in the game to pair alongside future franchise player Luka Doncic and soon to be 41-year-old LeBron James.
In this scenario the Denver Nuggets would send Nikola Jokic to Hollywood in exchange for a package of Austin Reaves, Rui Hachimura, Dalton Knecht, Dorian Finney-Smith, a 2031 first-round pick and a 2028 pick swap.
How realistic that would be is anyone's guess in this current NBA landscape. But pairing two of Europe's premier superstars in the Purple and Gold would certainly have Laker Land excited.
Advertisement
Related: There Are Growing Calls For WNBA To Ban Marina Mabrey
Blockbuster Lakers, Nuggets Trade Proposed After Team's Sale first appeared on The Spun on Jun 18, 2025
This story was originally reported by The Spun on Jun 18, 2025, where it first appeared.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBS News
25 minutes ago
- CBS News
Is a high-yield savings account worth it in today's economy? Here's what savings experts think.
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. If you want to earn more interest on your money, it could be time to open a high-yield savings account. Getty Images While there are numerous interest-bearing deposit accounts for savers to consider, high-yield savings accounts have become a popular financial tool. These accounts are easy to open from the convenience of your own home, thanks to the wide variety of online banks that offer them. And unlike traditional savings accounts, high-yield savings accounts allow you to earn hefty returns on your savings. Like other savings tools, though, the potential returns on high-yield savings accounts are largely dependent on the economic climate. These accounts were especially worth considering in recent years, as interest rates were high overall thanks to the fight against elevated inflation. When the Federal Reserve lowered the federal funds rate in late 2024 and early 2025, though, many high-yield savings account rates dropped in tandem. That, in turn, led to questions about whether it was really worth it to open this type of savings account. Whether a high-yield savings account is ultimately worth it for you depends on a range of factors, including your savings goals and liquidity needs, so you'll need to weigh all the factors to determine whether opening one is the right move. But to help you decide, we spoke with savings experts to find out if these accounts are still worth it in today's economic climate. Find out how to earn more with the right high-yield savings account now. Is a high-yield savings account worth it in today's economy? Here's what experts had to say about opening this type of savings account in this economy: These accounts offer an opportunity to earn more A high-yield savings account can help you earn considerably more than you would in a traditional savings account. Right now, the average traditional savings account rate is just 0.42%, which doesn't really equate to a meaningful return on your savings. High-yield savings accounts, on the other hand, typically have returns that are many times that. "High-yield savings accounts do what most savings accounts don't: actually earn something, " says Ryan McLin, a CFP with Impact Wealth Group. "With rates often 10x higher than traditional savings accounts, they're ideal for emergency funds and cash reserves." To give you an idea of how much better the earning potential is with a high-yield savings account, imagine you had $10,000 of savings to deposit. In a high-yield savings account with a 4% interest rate, you would earn more than $400 in the first year and more than $2,200 after five years. Meanwhile, you would earn about $211 in interest on $10,000 after five years in a traditional savings account with a 0.42% return. According to McLin, these accounts are well-suited to short-term financial goals, such as the down payment on the home you're planning to buy in the next year or two. They're also the best place to house your emergency fund, thanks to the safety and liquidity they offer. Explore your high-yield savings account options and get started today. High-yield savings account rates remain high for now Interest rates on high-yield savings accounts are variable, so they generally ebb and flow based on the Federal Reserve's federal funds rate and other economic conditions. When the Fed lowers rates, the rates on high-yield savings accounts typically also decline (and vice versa). "After the Fed raised rates and then hit pause, we saw high-yield savings accounts hold steady with some of the best rates we've had in years," says Michael Rodriquez, a certified financial planner with Equanimity Wealth. "Online banks are still competing for deposits, which is keeping rates elevated for now. It's been a rare bright spot in a pretty uncertain economy." Though rates may be a bit lower than they were throughout parts of 2023 and 2024 when the federal funds rate was higher, it's still possible to find high-yield savings account rates of 4% or more currently. Rates on these accounts vary from one bank to the next, though, so it's worth shopping around for one with a competitive return. Of course, there's no guarantee high-yield savings account rates will remain high. If the Fed decreases the federal funds rate, you can expect high-yield savings account rates to dip. But even at their lowest rates, these accounts tend to offer more generous returns than traditional savings accounts. High-yield savings accounts aren't a substitute for investing While high-yield savings accounts are an excellent option for emergency savings and short-term financial goals, they aren't a suitable replacement for investing. "Don't let interest earned in high-yield savings account replace what equity and even bond markets can offer over the long term," says McLin. "This account isn't for growing wealth but making sure accessible cash doesn't lose purchasing power over time." According to the U.S. Securities and Exchange Commission, the stock market has an average historical return of about 10% per year. On the other hand, you'd be lucky to earn 5% in a high-yield savings account. This can make high-yield savings accounts less than ideal for things like your retirement savings, where the goal is growing wealth rather than just preserving it. Your high-yield savings account should also be just one part of your overall financial plan. Generally speaking, you'd turn to stocks and other investments for your retirement and long-term savings and reserve your high-yield savings account for emergency and short-term savings. You may want to consider CDs as an alternative High-yield savings accounts are one option for short-term savings, but they aren't the only option. You may also consider certificates of deposit (CDs). CDs have set terms and fixed interest rates, so you're able to lock in today's high rates for the full CD term. "Short-term CDs, those with maturities of under a year, offer more flexibility, while long-term CDs (one year or longer) typically provide higher interest rates in exchange for less liquidity," says Matt Hicks, VP of Deposit Products at First Tech Federal Credit Union. "However, with the current interest rate environment, consumers can still find short-term certificates with rates equal to or greater than those of their long-term counterparts." Some banks offer more competitive rates on CDs than on high-yield savings accounts, which can make them a solid choice. However, CDs also require you to lock up your funds for the full term. If you do withdraw money early, you will generally face early withdrawal penalties. The bottom line High-yield savings accounts can still be worth it in today's economic climate, especially compared to traditional savings accounts. While rates are a bit lower than they were a year or two ago, high-yield savings accounts remain one of the best tools for your short-term and emergency savings. Just make sure to think of a high-yield savings account as a part of your financial strategy instead of the entirety of it. When combined with other financial tools, though, high-yield savings accounts can help you meet your financial goals and preserve the value of your hard-earned savings.
CBS News
26 minutes ago
- CBS News
Millions made available for Florida universities to pay student-athletes
Pointing to a need to avoid a disadvantage in recruiting athletes, Florida university-system leaders Wednesday made up to $22.5 million available for each state university to share revenues with athletes. The system's Board of Governors approved the funding, which will be available annually at that level as a loan or transfer for the next three years. It is designed to help carry out a new revenue-sharing model with athletes under a national legal settlement in a case known as House v. NCAA. Will help put universities into a position to compete for talent It comes amid massive change in college sports, in part because of athletes now being able to cash in through "name, image and likeness" deals. Traditionally, college athletes could not be paid. Board of Governors member Alan Levine said the money approved Wednesday "takes some of the pressure off the donors" now funding name, image and likeness deals and ensures "we put our universities in as advantageous a position as possible to compete." The settlement, approved June 6 by U.S. District Judge Claudia Wilken of the Northern District of California, in part establishes a 10-year model for NCAA Division I schools to expand rosters and directly pay athletes for their names, images and likenesses. "They're already out there trying to sign contracts with these athletes," Levine said. "And if we don't act, there's a really good chance that our institutions will be severely disadvantaged. I don't think anybody wants that." Spending is capped per school Payments, expected to go primarily to students who play football and men's basketball, would be in addition to currently allowed individual name, image and likeness deals, where money is often raised and distributed through what are known as "collectives" and other organizations tied to schools. Under the settlement, schools that opt in to the plan could spend up to a capped amount on direct payments and roster-expanding scholarships. For the 2025-2026 school year, the cap would be set at $20.5 million per school. Peter Collins, chairman of the Florida State University Board of Trustees, said not every Florida school will reach the cap. "I don't know for sure everybody else around the table, but I know we will, because everybody that we play is spending in the cap," Collins said. The cap is based on calculations involving media, ticket and sponsorship revenue at schools in what are known as the "Power 5" conferences --- the Atlantic Coast Conference, Big Ten, Big 12, Southeastern Conference and Pac-12 --- and at Notre Dame. The additional $2 million being offered to schools would cover back-pay of certain athletes who played before name, image and likeness deals became legal in 2021.
Forbes
26 minutes ago
- Forbes
Ex-H&M CEO Helena Helmersson On Circulose's Recycling Reboot With Mango
Garment's made from re:newcell's Circulose pulp, Paris Textile Salons, New York, USA - 16 Sep 2019 ... More (Photo by Dominique Maître/WWD/Penske Media via Getty Images) After hinting at big news during the recent Challenge the Fabric (CTF) conference, Circulose CEO Jonatan Janmark today announced the textile recycler's first brand partnership after emerging from bankruptcy in 2024. 'We're proud to partner with the forward-thinking brand Mango and support their high ambitions in circularity' said Janmark. "Their strong commitment brings us one step closer to restarting the factory and sets a powerful example for the industry. We hope it will inspire other brands to follow their lead.' Circulose is a regenerated textile 'pulp' from 100% waste fabrics, spun into recycled fibres similar to cotton or viscose. The recycler aims to valorise textile waste while decreasing brands' dependence on higher-impact 'virgin' fibres, which face increased European regulation and scarcity due to climate change. With brands, including Mango, setting environmental targets with 2030 and 2050 deadlines, prioritising recycled materials is one way of reducing company emissions, and supply chain risks. Circulose, formerly Renewcell, closed its factory after going bankrupt in February 2024 then relaunching in November with new investors Altor, Janmark as CEO and ex-H&M Group CEO, Helena Helmersson as chair of the board. Andrés Fernández, Mango's Sustainability and Sourcing Director shared Janmark's pride about today's announcement: 'We're proud to be the first brand to partner in Circulose's new phase and look forward to working closely together to advance our shared circularity goal'. He added: 'This collaboration marks a significant step on our sustainability roadmap as we strive to exclusively use fibres with lower environmental impact by 2030." The roadmap also includes sourcing regenerative cotton to tackle emissions, improve biodiversity and safeguard farmer health and resilience. Framing the partnership as far from a pilot or one-off 'collab', he indicated enduring business integration: '[The partnership] reflects our commitment to fostering a more circular and responsible fashion ecosystem, where innovation and environmental stewardship go hand in hand'. In an interview conducted as the announcement went public, Helmersson explained that there will be another brand partnership announced soon, despite the tough geopolitical and economic climate. The positive news is reassuring, since Circulose's business-model of old was viewed a major barrier to scaling its first-of-a-kind chemical recycling technology. Helmersson says her contribution to Circulose's new chapter lies in her ability to see the proposition from a brand's vantage point. 'It's easy for me to have a brand perspective – I know why it's hard [to implement such initiatives in the face of] unpredictability, with tariffs effecting margins and other challenges'. So how should brand CEOs weigh these partnerships, and integrate them into their businesses? 'When you are the CEO you have a responsibility to make it simple [for your business to implement] . For example, if you have buyers looking at circular materials that come with the premium, the cost [should be] taken from the top [not solely from their buying budget]". Janmark had stated during the CTF conference in May this year that Circulose would be offering a package of 'value-added services' to brand partners, including product development support, a fabric library to guide brands in replacing existing fabrics with Circulose ones, and access to a supplier network of fiber spinners and textile mills. The package constitutes a licensing model, including large-scale implementation, such as transition planning, supply chain orchestration, and traceability, according to today's company statement. The recycler's new pricing model was developed in collaboration with non-profits Fashion for Good and Canopy as part of a broader effort to accelerate brand adoption of 'next-generation' (low-waste/low-impact novel) materials. Despite their promising credentials, 'next-gen' materials have been unable to compete with 'higher-footprint' cheaper incumbents, remaining consigned to pilots and small 'capsule' collections that have faltered when it comes to industrial scaling. Helmersson was instrumental in H&M Group's sustainability investments while COO and then CEO between 2018 and 2024, overseeing direct investments in supply chain decarbonisation that have since placed H&M at the top of NGO annual scorecard of brands phasing out fossil fuels. But as tariffs bite, and decarbonisation of energy remains the sure-fire and measurable action to reduce emissions fastest, why might brands adopt Circulose now, especially when it comes at a premium? 'Mango has a progressive sustainability agenda and their management team sees sustainability as integrated. I think overall, certain companies choose to lead, usually based on 3 things: and seeing sustainability as an area that will make [the] business more successful'. While those who act based on goodwill are in the minority, they are the first movers on long-term resilience-enhancing solutions such as new materials, according to Helmersson. She also notes that while brands 'must go deep, not broad and shallow" into their supply chains and decarbonise operations, they 'should always look at consumer-facing stories too, to connect with [consumer] values and create the relationship to move away from only transactions'. When it comes to instigating more action from brands on sustainability initiatives, and the three motivators she posits, she has a stark outlook. "The more unpredictable the world becomes, the more [leaders] can [justify] deprioritising goodwill," she says. 'I am a big believer in more regulation in this area – I don't believe much in goodwill'. Stand by for my follow-up article where Helmersson reveals the required leadership and conditions for CEO action on sustainability.
