Headline: Historic Transition: Mark Walter Set to Take Reins as New Owner of the Iconic Los Angeles Lakers

The Los Angeles Lakers are set to have a new owner for the first time in over 40 years.

As reported by ESPN’s Shams Charania, the Buss family, who currently owns the team, has reached an agreement to transfer the majority stake in the franchise to Mark Walter. Walter serves as the CEO of the global conglomerate TWG Global.

Having been part of the Lakers organization since 2021 as an investor, Walter is now poised to take over ownership from the Buss family.

Jeanie Buss, the team’s governor, will continue in her position. She is the daughter of Jerry Buss, who acquired the Lakers in 1979, and took over as president after her father’s death in 2013.

Throughout the Buss family’s stewardship, the Lakers have solidified their place as one of the most successful franchises in NBA history, securing 11 championships since 1979.