Mark Walter, chairman of the Los Angeles Dodgers and CEO of TWG Global, has acquired the majority ownership stake in the Los Angeles Lakers, ending 45 years of control by the Buss family according to KTLA.
Jeanie Buss will remain as team governor, according to ESPN.
Walter had previously held a minority stake in the team. His full takeover comes ahead of the NBA Draft on June 25–26 and free agency beginning July 6 at 9 a.m.
The Lakers were purchased by Jerry Buss in 1979. Under the Buss family, the team won 11 NBA titles and built dynasties around stars such as Magic Johnson, Kobe Bryant, Shaquille O’Neal, and LeBron James.
Mark Walter also holds ownership in the Los Angeles Sparks (WNBA) and a Formula 1 team.
