Copyright Newsweek
The sale of the Los Angeles Lakers is expected to be completed sooner rather than later. Just how much sooner? Well, according to ESPN's Ramona Shelburne, the sale of the Lakers franchise should be approved by the end of this month. Shelburne shared in her most recent piece. "Businessman Mark Walter is scheduled to present his bid to acquire the Los Angeles Lakers to the NBA's Advisory Finance Committee on Friday and could be approved as the franchise's new majority owner by the end of the month, sources with knowledge of the process told ESPN." More news: NBA Power Rankings: Surprise West Team Takes Over Thunder For Top Spot Shelburne added that the committee will review Walter's bid at $10 billion to buy a controlling share of the franchise from Jeanie and the Buss family. In mid-June, ESPN’s Shams Charania reported that the Buss family had reached an agreement to sell a majority stake in the Lakers to Walter. The TWG Global CEO and chairman has been a stakeholder in the franchise since 2021. Walter’s sports portfolio is already impressive — he owns the WNBA’s Los Angeles Sparks, the newly launched Cadillac Formula One team, and a franchise in the Professional Women’s Hockey League. He’s been deeply embedded in the sports world for years, and everywhere he’s gone, success has followed. Under his leadership, the Dodgers have become one of the most respected and consistently dominant organizations in baseball over the last decade. With his growing involvement in the Lakers, many believe that same championship culture could soon translate to the purple and gold. As of Wednesday, Walter's Dodgers are two wins away from their third World Series title under his leadership. More news: Lakers Receive Unexpected LeBron James Injury Update Jerry Buss, the late, great Lakers owner, purchased the team in 1979 for $67.5 million from former owner Jack Kent Cooke. Under the Buss family, the Lakers have won a total of 11 titles, with their most recent coming in 2020.
