Mark Walter, who has been a minority owner of the Los Angeles Lakers since 2021, will soon acquire majority ownership from the Buss family. Walter had the right of first refusal on the sale, which likely explains why news of the sale was kept under wraps. Despite the ownership change, Jeanie Buss will remain the Governor of the team for now. This transition follows a recent trend of NBA franchises changing ownership, with significant sales occurring across the league.
Walter's right of first refusal is the likeliest reason news of a sale never went public. The outcome was always going to be Walter purchasing the team.
Walter has been a minority stakeholder in the Lakers since 2021 and has interests in multiple sports organizations, including the LA Dodgers and WNBA's Los Angeles Sparks.
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