The Buss household has entered an settlement to promote majority possession of the Los Angeles Lakers to Mark Walter, the CEO of diversified holding firm TWG International, sources advised ESPN.
Jeanie Buss will proceed to serve in her position as Lakers governor, sources mentioned.
Walter has pursuits in a number of skilled sports activities organizations, together with the Los Angeles Dodgers, Los Angeles Sparks, the Billie Jean Cup, Cadillac System One group and the Skilled Ladies’s Hockey League.
The Lakers have been owned by the Buss household since 1979, when Jerry Buss bought the franchise from Jack Kent Cooke in a $67.5 million transaction that additionally included the Los Angeles Kings and the Los Angeles Discussion board.
The Lakers handed to Buss’ kids when he died in 2013, and his daughter Jeanie has served because the Lakers governor since.
Walter has been a stakeholder within the Lakers since 2021, when he additionally acquired a proper of first refusal on the bulk share of the group.
ESPN’s Ramona Shelburne contributed to this report.
