Mark Walter Release Statement After Purchasing Lakers

Apr 13, 2016; Los Angeles, CA, USA; Los Angeles Dodgers owner and chairman Mark Walter reacts during a MLB game against the Arizona Diamondbacks at Dodger Stadium. The Dodgers defeated the Diamondbacks 3-1. Mandatory Credit: Kirby Lee-Imagn Images | Kirby Lee-Imagn Images

The new majority owner for the Los Angeles Lakers, Mark Walter, has released a statement on his recent and historic purchase of the team. 

“The Los Angeles Lakers are one of the most successful and admired franchises in sports history,” Waltersaid. “I have watched the organization grow under Jeanie’s leadership and couldn’t be more excited to partner with her and the entire management team. I am committed to supporting the franchise’s iconic status by continuing to bring together culture, community and entertainment to Lakers’ fans.”

Walter purchased the Lakers on Wednesday for a valuation of approximately $10 billion. 

Although the valuation is currently $10 billion, the price could eventually rise to as high as $12 billion. Walter, 65, is the principal owner of the Los Angeles Dodgers, and now he will own two of the biggest sports teams in L.A. and certainly in the world. 

Walter has taken the Dodgers to new heights as they are in their golden era of baseball. The Lakers have experienced more success throughout their existence; however, lately, things have not been the same. 

While the Lakers have certainly enjoyed moments of success, the past decade hasn’t exactly aligned with the lofty standards they've long been known for. The franchise endured its share of struggles, and the behind-the-scenes friction within the Buss family at times seemed to spill onto the court. 

Now, under Walter, the Lakers can reach a status that they could only dream of before their new ownership. The possibilities are endless for the Lakers, and it will be interesting to see how Walter translates his success with the Dodgers to the Lakers. 

Under Walter’s leadership, the Dodgers have evolved into one of the most respected and consistently high-performing franchises of the past decade. Now, with his increased presence in the Lakers’ organization, there’s hope that his championship mindset and proven track record can help guide the purple and gold back to sustained success.

During his tenure as Dodgers owner, L.A. has made 12 postseason appearances, won four National League pennants, and secured two World Series titles, boasting the best winning percentage in baseball during that span.

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