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Lakers sale to Mark Walter gets massive update
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- Lakers sale to Mark Walter gets massive update
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Over the summer, it was announced that the Buss family would be selling its majority stake in the Los Angeles Lakers to Mark Walter, with the deal yet to be finalized by the NBA. On Thursday, that final part of the process came to pass with a formal announcement from the league.
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"The NBA Board of Governors has unanimously approved the sale of the majority interest in the Los Angeles Lakers to Mark Walter," reported NBA Communications on X, formerly Twitter.
"Mark Walter has a long association with our leagues, having served as a minority owner of the Lakers and as a principal owner of the WNBA's Sparks for more than a decade," NBA commissioner Adam Silver said in a statement. "As Mark assumes his role as majority owner of the Lakers, I have no doubt that he will be a committed steward of the team and a great addition to our league given his many successful ventures in business and sports."
Jeanie Buss will remain the Governor of the team for at least five years once the deal is completed.
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