The NBA's most famous franchise will undergo significant change this offseason. The news broke earlier this month that the Buss family, who have owned the Lakers for decades, have agreed to sell majority ownership of the franchise to minority owner Mark Walter at a valuation of $10 billion.
On Wednesday morning, ahead of the 2025 NBA draft, longtime team governor Jeanie Buss released an official statement on the situation.
"The Buss family is deeply honored to have looked after this incredible organization for almost half a century," Buss said. "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.
"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."
In tandem with Buss, Walter released his own statement as he embarks upon taking over the Lakers.
"The Lakers have long been one of the most iconic franchises in sports," said Walter. "Since Dr. Jerry Buss first purchased the team in 1979, they have truly set the standard for basketball in one era after another, which is why you can find people anywhere in the world wearing Lakers shirts and jerseys. I admire what he, Jeanie and the Buss family have built, and I know how much this special organization matters to Southern Californians and sports fans everywhere.
"I also have tremendous respect for Jeanie's continued commitment to maintaining the Lakers' long-term vision and elite status, and I'm excited to work with her on the next era."
In his statement Walter appears to confirm reports that Jeanie Buss would be staying aboard as governor through the transition, a role she's held since the death of her father Jerry in 2013. The Buss family initially purchased the Lakers in 1979.
A new era in Los Angeles, with Walter and Buss sharing the helm.
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This article was originally published on www.si.com as Lakers Owners Release Official Statement on Selling Team to Mark Walter.