The Buss family is nearing an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO of TWG Global and owner of the Los Angeles Dodgers, sources familiar with the deal told NBCLA on Wednesday.
The news, first reported by ESPN, has a valuation of about $10 billion, a source told NBCLA.
Jeanie Buss, who took over the Lakers after the death of her father Dr. Jerry Buss, will continue to serve as the team’s governor after the sale, an indication that the Buss family’s long history with the Lakers will continue.
The Buss family has owned the Lakers since 1979.
NBCLA has reached out to the Dodgers organization for comment.
This is a developing story. Check back for updates.