The Lakers' $10 billion trade is set to be completed in the second half of the year! Jeanie speaks out for the first time: continuing the extraordinary legacy.

On June 26, Beijing time, according to the Associated Press, businessman Mark Walter's acquisition of a majority stake in the Los Angeles Lakers is expected to be completed in the third or fourth quarter of this year, valuing the team at $10 billion.

The parties confirmed in a statement today that Jeanie Buss will continue to serve as the team's manager and will oversee the team's daily operations comprehensively for the "foreseeable future." The Buss family has controlled the Lakers for 46 years.

Walter has been a minority owner of the Lakers since 2021. Jeanie Buss's father, Jerry Buss, purchased the team in 1979.

Jeanie Buss spoke out for the first time regarding the sale of the Lakers: "Since the day my father acquired the Lakers, we have been committed to bringing what Los Angeles deserves and expects: a team dedicated to winning with passion and style—relentlessly. I have known Mark (Walter) for a long time, and I am pleased to find that he shares our values. Over the past four years, Mark has been an outstanding partner, and we are excited to continue working with him to carry on the Lakers' extraordinary legacy."

Walter is the chairman and CEO of the diversified holding company TWG Global, and he holds stakes in the Los Angeles Dodgers, WNBA's Los Angeles Sparks, Cadillac Formula One team, and the Professional Women's Hockey League, among others. He referred to the Lakers as "one of the most iconic teams in sports for a long time."

Walter stated: "Since Jerry Buss first acquired this team in 1979, they have truly set the standard for basketball through one era after another, which is why you see people wearing Lakers jerseys all over the world."

The sale agreement for the Lakers was reached about three months ago, when Bill Chizum agreed to acquire the Boston Celtics for an initial valuation of $6.1 billion—this would have set a record, surpassing the previous sale price of $6.05 billion for the NFL's Washington Commanders. The Celtics' sale transaction is still pending completion, awaiting final approval from the NBA Board.