Mark Walter finalizes his purchase of a majority stake in the Los Angeles Lakers

Mark Walter is the majority owner of the Los Angeles Lakers after the NBA Board of Governors approved his purchase of a controlling stake from the Buss family. The Lakers and the league confirmed the next step Thursday in a transaction that is expected to close shortly. Jeanie Buss will remain the Lakers’ governor under the deal for at least the next five years, and she will oversee day-to-day operations “for the foreseeable future,” the team said.