The sale of the Los Angeles Lakers from the Buss family to TWG Global CEO and L.A. owner Mark Walter has been announced by both parites. In addition to having been a minority owner of the team, Walter also has another Lakers connection as he has long worked with franchise legend Magic Johnson with the Dodgers.

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Both sides confirm that Jeanie Buss will remain governor of the franchise and continue to “oversee all team operations on a day-to-day basis for the foreseeable future.”