Historic Shift: Lakers' Iconic Ownership Changes Hands
The Buss family is selling a majority stake in the Los Angeles Lakers, ending a significant era in NBA history. Mark Walter of TWG Global will take majority ownership, while Jeanie Buss remains as governor. This marks a shift from the time since Jerry Buss turned the Lakers into a legendary franchise.
The Buss family's historic hold over the Los Angeles Lakers is drawing to a close as they have agreed to sell a majority stake in the renowned NBA team. According to ESPN, Mark Walter, CEO of TWG Global, will be stepping into the driver's seat as the new majority owner
The Lakers organization, long iconic in the realm of professional sports, grew exponentially under the leadership of the late Jerry Buss. Having acquired the team in 1979, Buss transformed the Lakers into a titan of the NBA, securing five championships during the celebrated "Showtime" era of the 1980s.
After Jerry Buss's death in 2013, his daughter, Jeanie Buss, took the reins as the principal owner, becoming a powerful figure in the sports world. She will continue to oversee the franchise as its governor following the sale.
(With inputs from agencies.)
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