Mark Walter and Lakers say sale of the team is expected to close later this year

Businessman Mark Walter’s Los Angeles Lakers’ majority ownership, An agreement that puts its franchise valuation for $ 10 billion is expected to close in the third or fourth quarter of this year.

In a statement on Wednesday, Jeanie Buss, who has been checking Lakers for 46 years, will remain the governor of the team and “will continue to control all team operations for the predictable future”.

Walter has been a minority of Lakers since 2021. Jeanie Buss’s father, Jerry Buss, bought the team in 1979.

“From the day our father bought Lakers, we are determined to present what the City of Los Angeles deserves and demands: a team that is determined to win – mercilessly – and determined to do it with passion and style.” “I knew Mark very well over time and I was very pleased to learn how to share the same values. For the last four years, Mark has become a perfect partner for us and we are excited to continue working with Lakers’ extraordinary heritage.”

Walter, President and CEO of TWG Global, a diversified holding company, has Los Angeles Dodgers, WNBA’s Los Angeles Sparks, Billie Jean King Cup, Cadillac Formula 1 and Professional Women’s Hockey League.

He said that Lakers is one of the most iconic franchises in sports for a long time ”.

“Since the first acquired the team in 1979, Dr. Jerry Buss set the standards for basketball in 1979, so you can find people wearing Lakers shirts and jerseys anywhere in the world,” he said.

Lakers’ sales agreement, Bill Chisholm’s acceptance of Boston Celtics with a first value of $ 6.1 billion, will be a record, and by selling the previous $ 6.05 billion for NFL’s Washington commanders.

Celtics’ sale has not yet been finalized and the NBA Governors Board is waiting for the final approval.

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