Businessman Mark Walter’s acquisition of the majority ownership stake of the Los Angeles Lakers, in a deal that puts the franchise valuation at $10 billion, is expected to close in the third or fourth

The Buss family have agreed to sell a majority stake in the Los Angeles Lakers to TWG Global CEO Mark Walter, the two parties confirmed on Wednesday, while adding that Jeanie Buss will remain governor of the storied NBA franchise.

Mark Walter’s acquisition of majority ownership of the Lakers, in a deal that puts the franchise valuation at $10 billion, is expected to close in the third or fourth quarter of this year.