NBA Approves Lakers Sale by Buss Family to Dodgers’ Mark Walter
The NBA board of governors has officially approved Mark Walter’s bid to acquire a majority stake in the Los Angeles Lakers. This decision, made public on Thursday, marks a significant change for the storied franchise.
NBA Approval of Lakers Sale
The Lakers, a family-run franchise since Dr. Jerry Buss purchased the team in 1979, will transition to new ownership. Following Dr. Buss’s passing in 2013, control shifted to a family trust with Jeanie Buss serving as the governor.
Historic Legacy of the Buss Family
Under the leadership of the Buss family, the Lakers became one of the most iconic brands in sports. The franchise is now valued at an unprecedented $10 billion.
Despite the ownership change, Jeanie Buss will retain her role as the team’s governor for at least five more years after the sale is finalized. The league has confirmed this arrangement.
Mark Walter’s Vision for the Lakers
Mark Walter expressed his excitement in a statement, emphasizing the Lakers’ rich history of excellence. He acknowledged the franchise’s global influence and is committed to maintaining the high standards set by the Buss family.
- Mark Walter is also the owner of the Dodgers and the Sparks.
- He and Jeanie Buss shared the spotlight at the Lakers’ season opener on October 21.
- Walter aims to uphold the Lakers’ legacy while striving for future championships.
Jeanie Buss echoed these sentiments, highlighting her long-standing friendship with Walter and his dedication to the franchise. She expressed optimism about the Lakers’ future under his leadership.
This sale represents a new chapter for the Los Angeles Lakers, as they transition into the hands of a prominent sports owner while retaining their historical legacy and commitment to winning.
