The Los Angeles Lakers, a family-run business since Dr. Jerry Buss purchased the franchise in 1979, will be sold to Dodgers controlling owner Mark Walter and TWG Global, according to multiple people briefed on the deal.
The deal is expected to occur with the Lakers’ valuation being approximately $10 billion.
Walter, who is the current controlling owner of theDodgers, will now lead the city’s two premiere professional sports teams.
Control of the Lakers following Buss’ 2013 death went into a family trust, with Jeanie Buss operating as the team’s governor.