The next era of the Los Angeles Lakers is finally here as Luka Doncic is the franchise’s new leading man, but the organization will soon be transitioning leadership as well.
Earlier this year, news broke that minority owner Mark Walter would be purchasing a majority stake in the Lakers from the Buss family. Walter reportedly will purchase the controlling share at a valuation of $10 billion, making it the largest purchase in sports history.
When the news initially came out, the sale was projected to be finalized toward the end of the 2025 calendar year. However, it seems as though Walter has a a chance to be approved as the new controlling governor of the team as soon as the end of next week, via Ramona Shelburne of ESPN:
Businessman Mark Walter is scheduled to present his bid to acquire the Los Angeles Lakers to the NBA’s Advisory Finance Committee on Friday and could be approved as the franchise’s new majority owner by the end of the month, sources with knowledge of the process told ESPN.
The committee will review Walter’s bid at a $10 billion valuation to buy a controlling share of the franchise from the Buss family and then make a recommendation to the Board of Governors, which could vote on whether to approve Walter as soon as the end of next week, sources said.
This is exciting news as Walter’s installation would mark a formal change in the ownership structure of the Lakers and provide the team with more resources to compete moving forward. While Walter agreed to keep Jeanie Buss on as governor for the next few years, his presence should lead to meaningful changes in and around the organization.
Walter is famously known as the controlling owner of the Los Angeles Dodgers, a team that has experienced plenty of success the past decade. The hope is that Walter’s finances will bolster the Lakers franchise and level the playing field with the other teams that have more resources.
Assuming everything goes according to plan, Walter should be named the new Lakers controlling governor sooner than later.
Rob Pelinka doesn’t expect big changes to Lakers with Mark Walter in charge
Whenever there’s a change in ownership, organizations are used to seeing changes made up and down the board. However, president of basketball operations and general manager Rob Pelinka doesn’t expect to see big changes once Mark Walter is officially in charge.
Have you subscribed to our YouTube channel? It’s the best way to watch player interviews, exclusive coverage from events, participate in live shows, and more!
