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yesterday

Mark Walter Finalizes $10 Billion Purchase of Lakers After Unanimous NBA Approval

The transaction maintains organizational continuity by keeping Jeanie Buss as governor for at least five years.

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.

Overview

  • The NBA Board of Governors voted unanimously on Thursday to approve Walter’s acquisition of a majority stake in the Los Angeles Lakers.
  • Following the vote, team and league statements indicated the deal closed, making Walter the franchise’s new majority owner.
  • The sale values the Lakers at roughly $10 billion, setting a new record for a North American professional sports franchise transaction.
  • The Buss family retains a minority interest, reported at just over 15%, and Jeanie Buss will continue overseeing day-to-day operations as governor for at least five years.
  • Walter had been a Lakers minority stakeholder since 2021 and is the controlling owner of the MLB Dodgers and principal owner of the WNBA Sparks, with additional stakes in global sports assets.