The NBA Board of Governors on Thursday approved the sale of the Los Angeles Lakers to billionaire Mark Walter. The sale involves Walter acquiring a majority interest in the Lakers from current owner Jeanie Buss. The NBA anticipates the deal’s final completion shortly.
Mark Walter is co-owner of Major League Baseball’s Los Angeles Dodgers and CEO of Guggenheim Partners, a financial services company.
The transaction values the Lakers at approximately $10 billion, a record-breaking amount for an NBA team sale. This surpasses the previous record set by the $6.1 billion sale of the Boston Celtics earlier this year.
Jeanie Buss, who has led the Lakers as majority owner since 2013, has expressed her support for the sale. She has played a key role in the team’s management and operations.
Mark Walter’s acquisition of the Lakers adds to his existing sports-related investments and entrepreneurial ventures. He is known for his strategic investments across various industries.
The completion of the sale requires satisfaction of customary closing conditions, which the NBA expects to be finalized without delay. The league expressed confidence in Walter’s ability to lead the franchise forward.
