Businessman Mark Walter is set to make his formal pitch to acquire a controlling share of the Los Angeles Lakers this Friday, according to sources familiar with the process.
The NBA Advisory Finance Committee will review Walter’s bid, which values the franchise at $10 billion. If the committee issues a favorable recommendation, the league’s Board of Governors could vote on the proposal as soon as the end of next week, potentially finalizing the sale before the end of the month.
Walter, already a minority owner of the Lakers, is seeking to purchase the majority stake currently held by the Buss family. Under the terms of the agreement, Jeanie Buss would remain as governor for several years after the transaction closes.
The deal would mark the largest franchise purchase in sports history. Walter is best known as the controlling owner of the Los Angeles Dodgers, a club that has enjoyed sustained success under his stewardship over the past decade.
Within the Lakers’ basketball operations, expectations are that day-to-day changes will be minimal. Team president of basketball operations and general manager Rob Pelinka has indicated he does not anticipate significant adjustments once Walter becomes the controlling governor.
The ownership transition coincides with a new on-court chapter for the Lakers, who recently installed Luka Dončić as the franchise’s primary star.
Source: LakersNation.com
