NBA Approves LA Lakers Sale to Dodgers Owner Mark Walter
The landscape of the Los Angeles Lakers is set to change as the NBA has officially approved the sale of the team to Mark Walter, the majority owner of the Los Angeles Dodgers. This marks the end of the Buss family’s four-decade majority ownership of the iconic franchise.
Sale Details and Background
The transaction is expected to close shortly. Despite this shift in ownership, the Buss family will retain an ongoing interest in the team. Mark Walter, who has extensive experience in professional sports, has been a minority owner of the Lakers and the principal owner of the WNBA’s Sparks for over ten years.
Mark Walter’s Role
- CEO and co-chairman of TWG Global.
- Majority owner of the Los Angeles Dodgers.
- Long-standing association with the Lakers franchise.
NBA Commissioner Adam Silver expressed confidence in Walter’s ability to lead, stating, “I have no doubt that he will be a committed steward of the team.”
Legacy of the Buss Family
The Buss family, led by Dr. Jerry Buss, transformed the Lakers’ legacy after acquiring the team in 1979 for $67.5 million. Under his leadership, the Lakers won ten NBA championships in 16 appearances before his death in 2013. Control of the team subsequently passed into a family trust.
Jeanie Buss’s Continued Leadership
Jeanie Buss, daughter of Dr. Jerry Buss, will continue as the team’s Governor for at least five years following the sale. Commissioner Silver acknowledged her dedication and the family’s transformative impact on the Lakers, stating, “I also want to thank and congratulate Jeanie Buss and the Buss family for 46 years of transformational leadership.”
This historic transaction represents a significant moment in the franchise’s history as it transitions to new ownership while retaining ties to its storied past. Fans and stakeholders alike will be watching how the new leadership shapes the future of the Los Angeles Lakers.
