Lakers sale should wrap up this year

The sale of the Los Angeles Lakers to billionaire Mark Walter is expected to close later in 2025 in a deal that will see Jeanie Buss remain governor of the club "for the foreseeable future", Walter and Buss announced on June 25.

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The official confirmation comes a week after US media reported that the Buss family would sell a controlling interest in the iconic National Basketball Association (NBA) franchise in a record-breaking US$10 billion (S$12.72 billion) deal that makes the Lakers the highest-valued team in US history.

"Businessman and philanthropist Mark Walter has reached an agreement with the Buss Family Trust to acquire a majority stake in the NBA's Los Angeles Lakers," a statement on the deal issued by the interested parties said.

"Jeanie Buss will remain governor of the franchise and continue to oversee all team operations on a day-to-day basis for the foreseeable future."

Jeanie Buss added in the statement: "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.