Businessman Mark Walter's acquisition of the majority ownership stake of the Lakers is expected to close in the third or fourth quarter of this year.

The Los Angeles Lakers has confirmed Mark Walter will purchase a majority stake in the NBA franchise from the Buss family, a deal that values the team at a record $10 billion.

It sounds like the Buss Family's sale of the Los Angeles Lakers won't take too long to be completed. According to the Associated Press, Los Angeles Dodgers owner Mark Walter's acquisition of the majority ownership stake from the Buss Family "is expected to close in the third or fourth quarter of this year."