The Buss family's four-decade run as majority owner of the Los Angeles Lakers is ending as the NBA approved the sale of the team to Mark Walter.

NEW YORK – The NBA Board of Governors has unanimously approved the sale of the majority interest in the Los Angeles Lakers to Mark Walter. The transaction is expected to close shortly.

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The NBA announced on Thursday that the board of governors unanimously approved Walter's purchase of the Lakers from the Buss family, with Ramona Shelburne of ESPN reporting that Walter closed on the sale of the team after being approved by the league.

Lakers predicted to outlast rival Clippers in NBA Cup group play originally appeared on The Sporting News. Add The Sporting News as a Preferred Source by clicking here. The Los Angeles Lakers begin their hopeful run at a second NBA Cup title in three seasons Friday night when they take on Ja Morant and the Memphis Grizzlies.

The NBA Board of Governors unanimously approved the sale of the majority interest in the Los Angeles Lakers to Mark Walter on Thursday. The league said the transaction is expected to close shortly. The $10 billion valuation makes it the largest sale in history for a professional sports franchise.

Lakers predicted to cut ties with Austin Reaves, pair him with 2-time NBA champion, former MVP originally appeared on The Sporting News. Add The Sporting News as a Preferred Source by clicking here.

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Luka Dončić was upgraded to questionable for the Los Angeles Lakers’ road game against the Memphis Grizzlies on Oct. 31.

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