The NBA Board of Governors has unanimously approved the sale of the majority interest in the Los Angeles Lakers to Mark Walter.

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 Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence and the relentless pursuit of greatness,” Walter said in a statement.