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.

Guggenheim Partners CEO Mark Walter, who also owns Major League Baseball’s Los Angeles Dodgers, is acquiring the storied NBA team in a move that makes it the world’s most valuable sports franchise.