Jerry Buss, Jeanie's father, originally purchased the franchise in 1979, and the family has remained in control of the team for the last 46 years. Walter purchased a minority stake in 2021 before last week's agreement to acquire the majority stake for a franchise valuation of approximately $10 billion.

Mark Walter’s acquisition of majority ownership of the 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.

The sale of the majority stake of the Los Angeles Lakers franchise to Los Angeles Dodgers owner Mark Walter was announced Wednesday morning. However, the deal is still pending approval from the NBA Board of Governors,