NBA approves Los Angeles Lakers ownership sale
The Peninsula
New York: The NBA s board of governors has formally approved the sale of the Los Angeles Lakers to billionaire Mark Walter, the league said on Thursda...
New York: The NBA's board of governors has formally approved the sale of the Los Angeles Lakers to billionaire Mark Walter, the league said on Thursday.
The NBA said the final completion of the deal, which will see Walter take a majority interest in the Lakers from Jeanie Buss, is expected "shortly".
"As Mark assumes his role as majority owner of the Lakers, I have no doubt that he will be a committed steward of the team and a great addition to our league given his many successful ventures in business and sports," NBA commissioner Adam Silver said in a statement.
The Lakers announced in June that Walter had agreed a sale with owner Jeanie Buss, whose family has controlled the franchise since 1979, in a $10 billion deal that makes the Lakers the highest-valued team in US sports history.
Buss will remain the Lakers' governor for a period of "at least five years" following the deal, the NBA confirmed on Thursday.
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