The Buss family has entered an agreement to sell majority ownership of the Lakers to Dodgers chairman Mark Walter, the CEO of Guggenheim Partners, ESPN was first to report on Wednesday.
Jeanie Buss will continue to serve in her role as Lakers governor, the report said.
Walter has interests in multiple professional sports organizations, including the Dodgers and the WNBA’s Sparks, and the Cadillac Formula 1 team.
The Lakers have been owned by the Buss family since 1979, when Jerry Buss purchased the franchise from Jack Kent Cooke in a $67.5 million transaction that also included the NHL’s Kings and the Forum in Inglewood.
The Lakers passed to Buss’ children when he died in 2013, and his daughter Jeanie has served as the Lakers’ governor since.
Walter has been a stakeholder in the Lakers since 2021, when he also received a right of first refusal on the majority share of the team.
Much more to come on this story.