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 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.

Jerry Buss first purchased the Lakers in 1979 for $67.5 million in a deal that also included the NHL's Los Angeles Kings and The Forum in Inglewood, California. The franchise passed down to his children after he died in 2013. The Buss family has owned about two-thirds of the Lakers prior to this sale.