End of an Era Confirmed With New Los Angeles Lakers Update From NBA
Summary
The NBA approved Mark Walter's purchase of the Los Angeles Lakers, making him the new majority owner. The deal values the team at nearly $10 billion, the highest price for a sports team in North America. Jeanie Buss will continue to serve as the team's Governor and is still part of the Lakers' ownership.Key Facts
- The NBA Board of Governors approved Mark Walter to buy the Lakers' majority interest.
- The purchase price for the Lakers is nearly $10 billion, a record for any North American sports team.
- Mark Walter has been involved with sports teams before, owning parts of the Los Angeles Dodgers and the Los Angeles Sparks.
- Jeanie Buss and the Buss family have owned the Lakers since 1979 and have won 10 NBA titles during their leadership.
- Jeanie Buss will remain in a leadership role as the team's Governor for at least five more years.
- The Buss family will still have a stake in the Lakers, even after the sale.
- The transaction opens a new era for the Lakers, with a shift from family to investor-led ownership.
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