The Los Angeles Lakers will have new majority ownership, selling to Mark Walter, the CEO of TWG Global and controlling owner of the Dodgers.

The Buss family is nearing an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO of TWG Global and owner of the Los Angeles Dodgers, sources familiar with the deal told NBCLA on Wednesday.

Walter owns the WNBA’s Los Angeles Sparks, the newly formed Cadillac Formula One team, and the Professional Women’s Hockey League.