India, June 19 -- Mark Walter, the CEO of holding company TWG Global, is the front-runner to buy a majority ownership of the Los Angeles Lakers, ESPN reported on Wednesday, citing sources. Jeanie Buss will continue to serve in her role as Lakers governor, the report added.

Walter already has interests in several sports organizations, including the Los Angeles Dodgers, Los Angeles Sparks, the Billie Jean Cup, Cadillac Formula One team and the Professional Women's Hockey League. He has been a stakeholder in the Lakers since 2021.

The Los Angeles Lakers have been owned by the Buss family since 1979. Jerry Buss bought the franchise from Jack Kent Cooke for $67.5 million. The transaction also included the Los Angeles Kings and the Los Angele...