Dodgers controlling owner Mark Walter and Lakers president and controlling owner Jeanie Buss broke their silence Wednesday on a blockbuster deal that shocked many in and outside of the Los Angeles.
A news release issued by Walter’s team confirmed his acquisition of majority ownership stake of the Lakers, with the transaction expected to close in the third or fourth quarter of this year.
During the sale talks, the valuation of the Lakers was placed at $10 billion, a record for a professional sports team, people with knowledge of the deal not authorized to discuss it publicly told The Times.