Mark Walter's tenure as owner is ushering in significant shifts for The Lakers.

RC Nazemi

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Big changes already coming down for Lakers in Mark Walter era image

TL;DR

  • Los Angeles Lakers majority ownership sold to Mark Walter for over $10B.
  • Mark Walter owns the Dodgers, Sparks, and partial interest in Chelsea FC.
  • Lakers restructuring basketball operations, removing Buss brothers from front office roles.
  • This marks the first official step by new ownership under Mark Walter.

In a blockbuster move last summer, the Los Angeles Lakers' majority ownership was sold from Jeanie Buss to Mark Walter.

It instantly became the largest sale of a sports franchise in history, totalling over $10B. 

The shift was rather startling for a franchise that's been under the same family's ownership since the 1980s. Nevertheless, the identity of the team's new proprietor came as no shock whatsoever.  

While Mark Walter may not be a widely known figure in the sports world, his influence is undeniable. Walter holds ownership of the Los Angeles Dodgers and the Los Angeles Sparks, in addition to a partial interest in Chelsea FC. Furthermore, Walter is the proprietor of the entire professional women's hockey league (PWHL) and the forthcoming Cadillac F1 team. 

This individual is quite familiar with sports and the triumphs of his teams. His disregard for financial consequences, particularly concerning Dodgers contracts, has evidently led to three World Series championships. 

Since the acquisition, the question has been when the impact of Walter's team purchase would become apparent. That moment appears to be now. 

MORE: %3Cmeta%20charset%3D%22UTF-8%22%20%2F%3ELakers' record-breaking $10B majority ownership sale stuns NBA sphere

Lakers fire Jesse and Joey Buss

ESPN's Shams Charania reported a surprising development: the Lakers are set to restructure their basketball operations, leading to the departure of the Buss brothers. 

This action comes as quite a shock for several reasons. Primarily, it marks the initial official step taken by the new ownership under Mark Walter's leadership. Secondly, it's a development that few, if any, anticipated.

The Buss brothers, though not as publicly visible as their sister and principal owner Jeanie, played a crucial role in this organization.

They played a significant role in scouting, discovering talent in the later rounds or as undrafted players, including individuals such as Austin Reaves, Max Christie, Kyle Kuzma, and Jordan Clarkson.

It'll be noteworthy to observe how their lack of involvement in scouting manifests, despite their continued minority ownership. 

At some point, Walter needed to make a decisive move to assert his leadership over the organization. However, this particular action was not what anyone anticipated. 

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Staff Writer