# Historic Sale of Los Angeles Lakers Nears Completion
## Sale Agreement with Mark Walter
In a significant development for the NBA, the Buss family, the long-time owners of the Los Angeles Lakers, has reached an agreement to sell the majority stake of the iconic franchise to Mark Walter, CEO and Chairman of TWG Global Investments. The announcement was made late last night by ESPN.
Under the terms of the agreement, Jeanie Buss will remain as the franchise’s Governor, a move that indicates a desire to maintain stability within the team’s management. Walter, who has held a minority stake in the Lakers since 2021, will take on a central role in overseeing the team.
## Mark Walter’s Sports Involvement
Mark Walter is not a newcomer to the world of sports ownership. In addition to his involvement with the Lakers, he owns the Los Angeles Dodgers, a Major League Baseball team, and holds rights in the WNBA through the Los Angeles Sparks. He is also a partner in Formula 1 racing through the Cadillac team and has invested in the professional women’s hockey league and the Billie Jean King Cup in tennis.
## Implications for the NBA
The sale is expected to ripple through not just Los Angeles but the entire NBA landscape, marking the first time in decades that the renowned franchise has shifted to new ownership. This transition occurs at a pivotal moment when two of the biggest names in basketball, Luka Dončić and LeBron James, are currently under contract with the Lakers.
The event highlights a new era for the Lakers as they navigate opportunities and challenges ahead with a fresh ownership structure.
Photo Credit: Reuters
As the transition unfolds, the basketball community is left to speculate on the potential changes this ownership shift could entail for the storied franchise and its future in the league