Both sides confirm that Jeanie Buss will remain governor of the franchise and continue to “oversee all team operations on a day-to-day basis for the foreseeable future.”

One question many have had is when the sale will officially be completed and how long the transition will take. According to ESPN, the sale is expected to close sometime in the second half of this year.

Mark Walter's acquisition of the majority ownership stake of the Lakers, in a deal that puts the franchise valuation at $10 billion, is expected to close in the third or fourth quarter of this year