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,

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.

The Los Angeles Lakers has confirmed Mark Walter will purchase a majority stake in the NBA franchise from the Buss family, a deal that values the team at a record $10 billion.