"The Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence and the relentless pursuit of greatness. Few teams carry the legacy and global influence of the Lakers, and it's a privilege to work alongside Jeanie Buss as we maintain that excellence and set the standard for success in this new era, both on and off the court."
"Over the past decade, I have come to know Mark well -- first as a businessman, then as a friend and now as a colleague. He has demonstrated time and time again his commitment to bringing championships to Los Angeles, and, on behalf of Lakers fans everywhere, I am beyond excited about what our future has in store."
The NBA Board of Governors unanimously approved Mark Walter as the new majority owner of the Los Angeles Lakers, and he immediately closed the purchase at a $10 billion valuation. Walter already controls the Los Angeles Dodgers and WNBA’s Los Angeles Sparks and holds sports investments through TWG Global, including the Billie Jean King Cup, the Cadillac Formula 1 team and the Professional Women’s Hockey League; he is also a part owner of Chelsea F.C. The Buss family will retain a minority stake of more than 15%, with Jeanie Buss remaining team governor and overseeing day-to-day operations for at least five years. Both Walter and Buss framed the change as a partnership focused on continued championships and sustaining the franchise’s global legacy.
Read at ESPN.com
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