The NBA Board of Governors has unanimously approved the sale of the Lakers to businessman Mark Walter, finalizing the $10 billion deal.
LOS ANGELES (CNS) — Businessman Mark Walter — who already owns part of the Dodgers, Sparks and Chelsea Football Club — has finalized a $10 billion purchase of the Lakers, the team announced Thursday following unanimous approval of the deal by the NBA Board of Governors.
“The Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence and the relentless pursuit of greatness,” Walter said in a statement. “Few teams carry the legacy and global influence of the Lakers, and it’s a privilege to work alongside Jeanie Buss as we maintain that excellence and set the standard for success in this new era, both on and off the court.”
Buss, the team’s previous controlling owner, will remain governor of the Lakers “and continue to oversee day-to-day operations for the foreseeable future.”
“Over the past decade, I have come to know Mark well — first as a businessman, then as a friend and now as a colleague,” Buss said in a statement. “He has demonstrated time and time again his commitment to bringing championships to Los Angeles, and, on behalf of Lakers fans everywhere, I am beyond excited about what our future has in store.”
Buss confirmed in June that the team was being sold to Walter, pending league approval.
Walter has been a minority owner of the Lakers since 2021. He is chairman and CEO of TWG Global, a diversified holding company.
Jerry Buss purchased the Lakers in 1979 for $67.5 million in a deal that also included the NHL’s Kings and The Forum. Buss sold his controlling interest in the Kings in 1988 and what is now Kia Forum in 1999. Following his death in 2013, Lakers ownership passed to his children, with Jeanie Buss serving as team governor ever since.
The Lakers have thrived under the Buss family’s leadership, becoming one of the most storied franchises in sports. They’ve captured 11 NBA championships during that span, including a three-peat from 2000 to 2002 under coach Phil Jackson and star guard Kobe Bryant, and most recently won a title in 2020.
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