The Los Angeles Lakers will have new majority ownership, selling to Mark Walter, the CEO of TWG Global and controlling owner of the Dodgers.

The Buss family’s decision to sell a controlling stake in the Los Angeles Lakers at a franchise valuation of $10 billion marks the end of nearly a half-century when one of the most valuable properties in the entire sports world was run by an eccentric father and his sometimes squabbling children.

Walter, the CEO of TWG Global and Guggenheim Baseball Management, would become the majority owner with Jeanie Buss reportedly remaining in her role as Lakers governor. The Lakers have been owned