Connect with us

Hi, what are you looking for?

Sports

Lakers Sale Announced: Jeanie Buss to Remain in Charge

LOS ANGELES – In a groundbreaking announcement, the Los Angeles Lakers confirmed the sale of the franchise to billionaire Mark Walter, while Jeanie Buss will continue as the governor and oversee daily operations.

Immediate Impact

The announcement, issued on Wednesday, follows Walter’s agreement to purchase a controlling interest in the Lakers at a staggering $10 billion valuation. This move solidifies Buss’s role in leading the team for the foreseeable future.

“Jeanie Buss will remain governor of the franchise and continue to oversee all team operations on a day-to-day basis for the foreseeable future,” the official press release stated.

Key Details Emerge

According to sources familiar with the agreement, Buss is expected to maintain her position for several years. The sale is anticipated to close in the third or fourth quarter of 2025, pending NBA approval.

“The Buss family is deeply honored to have looked after this incredible organization for almost half a century,” Buss expressed in the release.

Industry Response

The sale to Walter, who also owns the Los Angeles Dodgers, was approved by a majority vote from Buss and her siblings. Walter has previously transformed the Dodgers into a leading baseball franchise, enhancing both payroll and infrastructure.

“The Lakers have long been one of the most iconic franchises in sports,” Walter remarked. “I admire what Jeanie and the Buss family have built.”

By the Numbers

  • $10 billion – Valuation of the Lakers sale
  • 1979 – Year Dr. Jerry Buss purchased the Lakers
  • 2025 – Expected year for sale closure

Background Context

This development builds on the legacy started by Dr. Jerry Buss, who purchased the Lakers in 1979. The franchise has since become a global icon, with fans worldwide donning Lakers apparel.

Jeanie Buss emphasized her commitment to maintaining the team’s winning tradition, stating, “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.”

What Comes Next

With the sale’s completion on the horizon, the Lakers’ future under Walter’s ownership looks set to continue its storied success. Walter expressed excitement about collaborating with Buss to uphold the Lakers’ elite status.

“I also have tremendous respect for Jeanie’s continued commitment to maintaining the Lakers’ long-term vision and elite status,” Walter added.

The timing is particularly significant as the Lakers aim to strengthen their position in the NBA landscape, ensuring their legacy continues to thrive under new ownership.

As the NBA’s approval process unfolds, the sports world will watch closely to see how this significant transition impacts the Lakers’ operations and performance in the coming years.

You May Also Like

Technology

Tesla (TSLA) recently reported a year-over-year drop in second-quarter deliveries, yet the market responded with optimism, pushing the stock up by 5%. This unexpected...

Health

The All England Lawn Tennis Club in London experienced its hottest-ever opening day on Monday, as the prestigious Wimbledon tournament kicked off under unprecedented...

Science

Look out, daters: a new toxic relationship trend is sweeping through the romantic world, leaving many baffled and heartbroken. Known as “Banksying,” this phenomenon...

Technology

In a bold reimagining of the DC Universe, director James Gunn has introduced a significant narrative element in his latest film, which reveals that...

Entertainment

Netflix’s eagerly anticipated talent competition Building the Band is set to premiere on July 9, promising an emotional journey for viewers. This series, centered...

Technology

Former Speaker of the House Nancy Pelosi has recently made headlines with her latest investment in the tech sector. According to official filings, she...

Entertainment

A new documentary series titled “Animals on Drugs” is set to premiere on the Discovery Channel on July 28, 2023. The three-part series follows...

World

The first dose of the hepatitis B vaccine is recommended at birth, a practice that has come under scrutiny following recent comments by Health...

Sports

ZAGREB, Croatia — A concert by Marko Perkovic, a right-wing Croatian singer known for his controversial views, attracted tens of thousands of fans to...

Business

Erin Dana Lichy, a prominent cast member of “Real Housewives of New York,” has officially settled into her dream home, a grand townhouse located...

Politics

Billionaire hedge fund manager Bill Ackman faced significant backlash following his professional tennis debut at the Hall of Fame Open in Newport, Rhode Island,...

Lifestyle

The upcoming TRNSMT 2025 festival is set to take place from July 7 to July 9, 2025, at Glasgow Green, and organizers have released...

Entertainment

While the echoes of Summer Game Fest 2025 and the Xbox Games Showcase still resonate, Xbox has already set its sights on the next...

Technology

Meta has officially opened preorders for its new Oakley smart glasses, the limited edition HSTN, ahead of their anticipated release on July 22, 2023....

World

CHONBURI, Thailand — The world-famous pygmy hippo, Moo Deng, celebrated her first birthday on Thursday at Thailand’s Khao Kheow Open Zoo. Despite her burgeoning...

Sports

As the summer of 2025 unfolds, the video game industry is set to deliver a diverse array of new releases that promise to captivate...

Copyright © All rights reserved. This website provides general news and educational content for informational purposes only. While we strive for accuracy, we do not guarantee the completeness or reliability of the information presented. The content should not be considered professional advice of any kind. Readers are encouraged to verify facts and consult appropriate experts when needed. We are not responsible for any loss or inconvenience resulting from the use of information on this site.