Walter was part of David Geffen's bid to buy the Los Angeles Clippers in 2014, when the team went for sale after former owner Donald Sterling was banned by the NBA for racist remarks. However, the team eventually went to Steve Balmer, who acquired the Clippers for $2 billion.

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’s decision to sell a controlling stake in the Los Angeles Lakers at a franchise valuation of $10 billion marks the end of nearly a half-century when one of the most valuable properties in the entire sports world was run by an eccentric father and his sometimes squabbling children.