Walter acquired controlling interest from the Buss family last year in a transaction that valued the Lakers at $10 billion. Walter characterized his brief ownership of the Lakers as both a privilege and an investment in a statement to ESPN. “I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. Walter has not been charged with wrongdoing, and neither the Lakers nor any of his other sports franchises has been accused of misconduct. Together, they could accelerate the Lakers’ transformation from a traditional basketball franchise into an even larger global entertainment property.