Mark Walter could have his bid to become the new majority owner of the Los Angeles Lakers approved by the NBA’s Board of Governors the end of the month. Walter was scheduled to present his bid to purchase the Lakers to the NBA’s Advisory Finance Committee on Friday.
Walter agreed to purchase the Lakers at a $10 billion valuation earlier in the year.
Walter is also the controlling owner of the Los Angeles Dodgers, while he also owns the Los Angeles Sparks and is a part owner of Chelsea FC. Walter purchased the Dodgers in 2012 for $2.15 billion and the franchise is now worth as much as $7.7 billion.
Jeanie Buss will remain in her role for the foreseeable future as the Buss family will retain a minority ownership stake of more than 15 percent.