The sale of the Lakers was confirmed by Jeanie Buss on Wednesday with the deal set to be completed in either the third or fourth quarter of 2025.
On Wednesday morning, Jeanie Buss confirmed the sale of the Lakers to Mark Walter with both parties giving their first public statements on the matter to Business Wire.
It was confirmed that Buss would remain with the team as governor “and continue to oversee all team operations on a day-to-day basis for the foreseeable future.”
Buss’ full statement reads as follows:
“The Buss family is deeply honored to have looked after this incredible organization for almost half a century. From the day our father purchased the Lakers, we have been determined to deliver what the City of Los Angeles deserves and demands: a team that is committed to winning – relentlessly – and to doing so with passion and with style.
I have gotten to know Mark very well over time and been delighted to learn how he shares those same values. For the last four years, Mark has been an excellent partner to us, and we are thrilled to keep working with him to continue the Lakers’ extraordinary legacy.”
Walter might be new to Lakers fans but he isn’t new to the franchise or Los Angeles. He became a minority stakeholder in 2021 after serving as the owner of the Dodgers for a number of seasons.
He, too, provided a statement on the sale:
“The Lakers have long been one of the most iconic franchises in sports. Since Dr. Jerry Buss first purchased the team in 1979, they have truly set the standard for basketball in one era after another, which is why you can find people anywhere in the world wearing Lakers shirts and jerseys.
I admire what he, Jeanie and the Buss family have built, and I know how much this special organization matters to Southern Californians and to sports fans everywhere. I also have tremendous respect for Jeanie’s continued commitment to maintaining the Lakers’ long-term vision and elite status, and I’m excited to work with her on the next era.”
According to the article, the sale of the franchise is expected to be completed in either the third or fourth quarter of 2025. Effectively, that just means it’ll be done sometime after July 1.
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