NBA Approves Lakers Sale to Dodgers’ Majority Owner Mark Walter
The NBA board of governors has officially approved Mark Walter’s acquisition of a majority stake in the Los Angeles Lakers. This decision was announced on Thursday, signaling a significant transition for one of the most prominent franchises in the league.
Historic Transition of Ownership
The Lakers have been a family-run team since Dr. Jerry Buss purchased the franchise in 1979. Following his passing in 2013, control of the team fell to a family trust, with Jeanie Buss serving as the team’s governor. The Buss family cultivated the Lakers into a globally recognized brand, achieving a staggering valuation of $10 billion.
Continuity in Leadership
Despite the ownership change, Jeanie Buss will continue as the team’s governor for a minimum of five years after the sale is finalized. This ensures stability during the transition period. Walter acknowledged the Lakers’ rich legacy, stating, “The Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence.”
Mark Walter’s Commitment
- Walter is also the majority owner of the Dodgers and the Sparks.
- He attended the Lakers’ season opener alongside Jeanie Buss on October 21.
- Buss expressed her enthusiasm for the partnership, noting Walter’s dedication to championships.
Jeanie Buss praised Walter, saying, “Over the past decade, I have come to know Mark well — first as a businessman, then as a friend and now as a colleague.” She emphasized the excitement surrounding the future of the team and the support for Lakers fans.
Looking Ahead
This new era under Walter’s ownership is poised to maintain the Lakers’ tradition of excellence and set new benchmarks for success both on and off the court. The NBA community eagerly anticipates the developments following this significant sale.
