Copyright independent
Billionaire Mark Walter has been confirmed as the new majority owner of the Los Angeles Lakers by the NBA. The NBA Board of Governors unanimously approved Walter's acquisition on Thursday, with the deal reportedly valued at $10bn. The Buss family, who had owned the team since 1979, will retain a minority stake, and Jeanie Buss will remain the team's governor for a minimum of five years. Walter, who also owns the Los Angeles Dodgers, expressed his commitment to maintaining the team's excellence and pursuing greatness. This acquisition sets a new record for a sports franchise purchase, exceeding Bill Chisholm's $6.1bn acquisition of the Boston Celtics.
