The Buss family has agreed in principle to sell the Los Angeles Lakers, one of the most iconic sporting brands in the world, to financier Mark Walter in a deal that values the team at a global record $10 billion, league sources told The Athletic.

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

The Buss family has agreed to sell the majority ownership of the Lakers to Dodgers controlling owner Mark Walter and TWG Global at a valuation of approximately $10 billion.