In a groundbreaking move that is set to reshape the landscape of the NBA, businessman Mark Walter is on the verge of acquiring the majority ownership stake of the iconic Los Angeles Lakers franchise for a staggering $10 billion. The deal, expected to close later this year, solidifies Walter's commitment to upholding the Lakers' legacy of excellence and passion for winning. Despite the change in ownership, Jeanie Buss, the daughter of former owner Jerry Buss, will continue to lead the team's operations, ensuring a seamless transition that keeps the Lakers' extraordinary legacy alive.
Mark Walter, who has been a minority owner of the Lakers since 2021, brings a wealth of experience from his role as the chairman and CEO of TWG Global, a diversified holding company. With ownership stakes in multiple sports entities including the Los Angeles Dodgers and the Los Angeles Sparks, Walter's dedication to maintaining the Lakers' status as one of the most iconic franchises in sports is unwavering. The pending sale of the Lakers follows a trend in the NBA, with other teams like the Boston Celtics also undergoing ownership changes, hinting at an exciting new chapter ahead for the league as a whole.