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What Stephen A. loves astir Lakers' merchantability to Mark Walter (2:45)
Stephen A. Smith reacts to the bulk ownership of the Lakers being sold to Mark Walter. (2:45)
Associated Press
Jun 25, 2025, 10:16 AM ET
Businessman Mark Walter's acquisition of the bulk ownership stake of the Los Angeles Lakers, successful a woody that puts the franchise valuation astatine $10 billion, is expected to adjacent successful the 3rd oregon 4th fourth of this year.
In a connection Wednesday, the sides confirmed that Jeanie Buss -- whose household has had power of the Lakers for 46 years -- volition stay politician of the squad and "continue to oversee each squad operations connected a day-to-day ground for the foreseeable future."
Walter has been a number proprietor of the Lakers since 2021. Jerry Buss, Jeanie Buss' father, bought the squad successful 1979.
"From the time our begetter purchased the Lakers, we person been determined to present what the City of Los Angeles deserves and demands: a squad that is committed to winning -- relentlessly -- and to doing truthful with passionateness and with style," Jeanie Buss said.
"I person gotten to cognize Mark precise good implicit clip and been delighted to larn however helium shares those aforesaid values. For the past 4 years, Mark has been an fantabulous spouse to us, and we are thrilled to support moving with him to proceed the Lakers' bonzer legacy."
Walter, the president and CEO of TWG Global, a diversified holding company, has ownership stakes successful the Los Angeles Dodgers, the WNBA's Los Angeles Sparks, the Billie Jean King Cup, the Cadillac Formula 1 Team and the Professional Women's Hockey League.
He said the Lakers "have agelong been 1 of the astir iconic franchises successful sports."
"Since Dr. Jerry Buss archetypal purchased the squad successful 1979, they person genuinely acceptable the modular for hoops successful 1 epoch aft another, which is wherefore you tin find radical anyplace successful the satellite wearing Lakers shirts and jerseys," Walter said.
The statement for the merchantability of the Lakers came astir 3 months aft Bill Chisholm agreed to bargain the Boston Celtics with an archetypal valuation of $6.1 cardinal -- which was going to beryllium a record, topping the erstwhile people of $6.05 cardinal merchantability for the NFL's Washington Commanders.
The Celtics' merchantability is not yet finalized, pending last support by the NBA's committee of governors.
