NBA Approves $10B Sale of Lakers to Walter

The NBA Board of Governors unanimously approved Mark Walter’s reported $10 billion purchase of a majority stake in the Los Angeles Lakers, a record valuation and one of the largest acquisitions in sports history. The Buss family will retain a minority interest, and Jeanie Buss will remain the Lakers’ governor and oversee day-to-day operations for at least five years after the transaction closes. Walter, who owns the Los Angeles Dodgers and has stakes in the Sparks and other sports properties, had been a Lakers stakeholder and is expected to consolidate control pending the closing. Commissioner Adam Silver and team statements praised the Buss family’s decades of leadership and welcomed Walter as a committed steward of the franchise. While NBA salary-cap and luxury-tax rules limit unrestricted roster spending, Walter can still invest in basketball operations and organizational infrastructure as the franchise begins a new era.