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[From ESPN]
Businessman Mark Walter's acquisition of the majority ownership stake of the Los Angeles Lakers, in a deal that puts the franchise valuation at $10 billion, is expected to close in the third or fourth quarter of this year.
In a statement Wednesday, the sides confirmed that Jeanie Buss -- whose family has had control of the Lakers for 46 years -- will remain governor of the team and "continue to oversee all team operations on a day-to-day basis for the foreseeable future."
Walter has been a minority owner of the Lakers since 2021. Jerry Buss, Jeanie Buss' father, bought the team in 1979.
...[continued]Read more of ESPN's story HERE
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