LA Lakers officially sold from Buss family to Dodgers owner Mark Walter

"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, Walter said in a team-issued statement. 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."

"The sale of the Lakers from the Buss Family Trust to Walter came at a valuation of approximately $10 billion, making it the largest sale of a North American professional sports team all-time. The Buss family is keeping a minority stake of the Lakers of just over 15%, which is required by the league to be a governor of an NBA franchise."

"Shortly after the NBA announced that the league's Board of Governors unanimously approved the sale, the Lakers announced that Walter finalized his acquisition of a majority stake in the Lakers. Walter had been a stakeholder of the Lakers since July 2021, when he and business partner Todd Boehly bought a 27% minority interest in the franchise from Philip Anschutz, the founder of Anschutz Entertainment Group (AEG), which owns and operates Crypto.com Arena, where the Lakers play their home games."

The NBA Board of Governors unanimously approved Mark Walter's acquisition of a majority stake in the Los Angeles Lakers, and the transaction closed with Walter finalizing the purchase. The sale valued the franchise at approximately $10 billion, the largest sale of a North American professional sports team. Jeanie Buss will remain the franchise governor and continue overseeing day-to-day operations, with the league specifying she will remain governor for at least five years after the closing. The Buss family retains just over a 15% minority stake, and Walter previously held a 27% interest purchased in July 2021 with Todd Boehly. AEG owns Crypto.com Arena, the Lakers' home venue, and NBA Commissioner Adam Silver noted Walter's long association with league ownership, including the WNBA Sparks.

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