MINNEAPOLIS — The sale of the Lakers from the Buss family to Dodgers controlling owner Mark Walter was made official Thursday morning.
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.
“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 Lakers’ statement said Buss will remain the franchise’s governor, continuing to oversee day-to-day team operations for the foreseeable future.
The league said Buss will remain the Lakers’ Governor for “at least five years” after the transaction closed Thursday.
“Over the past decade, I have come to know Mark well – first as a businessman, then as a friend and now as a colleague,” Buss said in a statement. “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.”
More to come on this story.
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