PREVIOUS: Reaction to the Lakers' new ownership
LOS ANGELES - In one of the biggest sales in sports history, the NBA Board of Governors officially approved the sale of the Los Angeles Lakers to Mark Walter, it was announced Thursday.
Walter, CEO of Guggeneheim Partners, is also the co-owner and chairman of the Dodgers.
What we know:
The NBA and the Lakers formally announced the new acquisition on Thursday.
Dr. Jerry Buss purchased the team in 1979 and following his passing, the torch was passed down to his children.
"Over the past decade, I have come to know Mark well—first as a businessman, then as a friend and now as a colleague," said Jeanie Buss in a press release. "He has demonstrated time and time again his commitment to bringing championships to Los Angeles, and, on behalf of Lakers fans everywhere, I am beyond excited about what our future has in store."
PREVIOUS COVERAGE:Lakers sold: Buss family sells majority stake for $10B, reports say
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