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

"The Buss family is deeply honored to have looked after this incredible organization for almost half a century. We have been determined to deliver what the City of Los Angeles deserves and demands: a team that is committed to winning - relentlessly - and to doing so with passion and with style."

"Walter's acquisition of majority ownership stake of the Lakers comes at a time when the team was valued at a record $10 billion, possibly swelling to $12 billion."

Mark Walter, Dallas Mavericks controlling owner, has agreed to a deal to acquire a majority ownership stake in the Lakers for around $10 billion, potentially rising to $12 billion. Jeanie Buss will retain her role overseeing daily operations. The Buss family has managed the Lakers for almost five decades, emphasizing a commitment to success and fan expectations. Walter, already a minority stakeholder since 2021, has led the Dodgers to success, creating hopes for a successful future for the Lakers under his ownership.

Read at Los Angeles Times