The Buss family has sold their majority stake in the Los Angeles Lakers to Mark Walter at a valuation of $10 billion. Walter, already a minority owner, had the right of first refusal when the Buss family decided to sell, making him the natural choice for majority ownership. Known for his low-profile approach, Walter previously owned part of the Dodgers and has maintained a background presence in sports ownership. His limited public engagements indicate a preference for privacy, even amid the immense spotlight on teams like the Lakers.
On Wednesday, it was reported that the Buss family sold their majority ownership stake in the Lakers at a $10 billion valuation to Mark Walter.
Walter had the right of first refusal if the Buss family ever wanted to sell and clearly, he did not refuse the offer.
The good news for Lakers fans is that we already have an indication of what Walter is like as a majority owner as he was part of the group that bought the Dodgers.
He prefers to remain in the background and doesn't embrace the spotlight that comes with owning a sports team, even one as prominent as the Dodgers.
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