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7h ago

NBA Unanimously Approves $10 Billion Sale of Lakers to Mark Walter

The move ends the Buss family's 46-year majority tenure, preserving continuity through a five-year term for Jeanie Buss as governor.

Jeanie Buss (L) and Mark Walter attend a basketball game between the Los Angeles Lakers and the Golden State Warriors at Crypto.com Arena in Los Angeles, California.
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Overview

  • League governors voted unanimously to approve Mark Walter’s purchase of a controlling stake in the Los Angeles Lakers, setting a new North American franchise valuation record near $10 billion.
  • The Lakers said the acquisition closed Thursday following the vote, though the NBA’s statement described closing as expected shortly.
  • Jeanie Buss will remain the team’s governor for at least five years, and the Buss family retains a minority interest in the franchise.
  • Local reporting places the Buss family’s remaining stake at just over 15%, reflecting league requirements tied to the governor role.
  • Walter expands an existing sports portfolio that includes controlling ownership of the Dodgers and the WNBA’s Sparks along with stakes in Chelsea FC and other properties.