The NBA club has been owned by the same family since 1979 when Jerry Buss purchased both the Lakers, including their then-home arena, and the NHL team Los Angeles Kings for $67.5 million.
This summer it became known that the family wants to sell a majority of its ownership stake to Mark Walter, who is CEO and chairman of the company TWG Global.
At that time, the basketball club was valued at a breathtaking $10 billion, which is equivalent to approximately SEK 93 billion. This is a record high valuation for an American sports club, writes the AP news agency.
Walter has been a minority owner of the Los Angeles Lakers since 2021, but after the NBA approved the sale on Thursday, he is expected to soon become the majority owner.
The businessman also has ownership interests in the Los Angeles Dodgers baseball club, the Los Angeles Sparks women's basketball club, the newly launched Cadillac Formula 1 team, the Premier League club Chelsea and the PWHL women's hockey league.
The Buss family will continue to own 15 percent of the Lakers and daughter Jeanie Buss will continue as chairman for at least five years. Jerry Buss died in 2013.
