Mark Walter, the owner of the Los Angeles Dodgers, is entering into an agreement to buy majority ownership of the Los Angeles Lakers, according to ESPN. Jeanie Buss will retain her role as the team's governor after the sale, according to the report.

The Dodgers have won two World Series titles since Walter and his group made the purchase just over a decade ago. The team payroll is exceeded only by the New York Mets, at $323 million against $321 million. The next closes team is the New York Yankees at $293.5 million.

The Los Angeles Lakers’ longtime owners have reportedly agreed to sell the team to another LA sports magnate in a deal estimated to be worth $10 billion.