Jeanie Buss to stay, Lakers to finalize $10B sale later in 2025
June 25 - Jeanie Buss remains in charge of the Lakers and anticipates finalizing a $10 billion sale of the franchise to minority stakeholder Mark Walter later this year.
Buss said Wednesday her role is unchanged until Walter completes the purchase of the franchise her father, Jerry Buss, bought in 1979 from Jack Kent Cooke along with the Los Angeles Kings and the team's home arena, the Forum, for a grand total of $67.5 million.
Jeanie Buss said she will remain in her position "for at least a number of years," and the Buss Family will become minority owners under Walter and TWG Global. Walter purchased 26 percent of the Lakers in 2021 and is a principal owner of the Los Angeles Dodgers. In that transaction four years ago, he also gained first right of refusal if the Lakers' majority stake ever went on the market.
"From the day our father purchased the Lakers, 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," Jeanie Buss said in a statement Wednesday. "I have gotten to know Mark very well over time and been delighted to learn how he shares those same values. For the last four years, Mark has been an excellent partner to us, and we are thrilled to keep working with him to continue the Lakers' extraordinary legacy."
The Lakers won 11 championships under the Buss Family guidance, which includes Jeanie's brothers Jim and Johnny. Jeanie Buss went to court after removing Jim Buss from a front office position in 2017 with Jeanie's role as controlling owner upheld.
ESPN reported the siblings voted in favor of selling the franchise recently.
--Field Level Media
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