Dodgers owner Mark Walter could be approved as the new majority owner of the Lakers by the end of October, reports Ramona Shelburne of ESPN.
As Shelburne details, citing sources, Walter is slated to present his record-setting bid to purchase the team to the NBA’s Advisory Finance Committee on Friday. Walter is already a significant minority shareholder in the Lakers, having purchased a 27% stake in 2021 alongside Todd Boehly.
According to Shelburne, the committee will review the bid and then make a recommendation to the league’s Board of Governors, which could vote on the impending sale at the end of next week.
Walter’s ownership group is purchasing a significant portion of the Buss family’s 66% majority stake in the Lakers at a $10 billion valuation. Current governor Jeanie Buss is expected to stay in that role for the next several years, as the family will retain at least a 15% stake, the minimum required for a minority owner to be a team’s governor.
The Lakers and Walter previously announced that the sale was expected to close during either the third or fourth quarter of 2025.