In a monumental move, the Buss family, longtime owners of the Los Angeles Lakers, is set to sell a majority stake in the franchise to Mark Walter for a record-breaking $10 billion. While the Buss family will retain a minority share, Jeanie Buss will continue as the team's governor, ensuring stability and continuity in leadership. Mark Walter, known for his success with the Los Angeles Dodgers, brings a wealth of experience in sports ownership and a commitment to excellence, which has garnered praise from franchise legend Magic Johnson and Lakers fans alike.
This historic transfer of ownership marks the end of an era spanning over four decades, during which the Lakers have captured 11 championships under the Buss family's stewardship. With Walter's vision and resources, the Lakers aim to build on their storied legacy and strive for continued success on and off the court. This deal not only underscores the team's enduring appeal but also reflects the shifting landscape of professional sports ownership, setting a new benchmark for valuations in the industry and signaling a new chapter in the illustrious history of the Los Angeles Lakers.