Famous reporter: Walter plans to submit a 10 billion bid to acquire the Lakers today, which may be reviewed by the end of the month

October 25th, according to Ramona Shelburne, sources told ESPN that businessman Mark Walter plans to submit an offer to acquire the Los Angeles Lakers to the NBA Financial Advisory Committee on Saturday. He may be approved to become the team's new majority shareholder before the end of this month.

Sources revealed that the committee will review Walter’s proposal to acquire the controlling stake in the team held by the Buss family at a valuation of US$10 billion and make recommendations to the board of directors. The board could vote on whether to approve Walter's acquisition as soon as the end of next week.

If Walter's acquisition is approved, he will own one of the most valuable professional sports team operating rights in the world. He is the controlling owner of the Los Angeles Dodgers, who begin the World Series on Saturday in Toronto. Walter also owns the WNBA's Los Angeles Sparks, the Billie Jean King Cup, the new Cadillac F1 team and the Professional Women's Hockey League. He is also a part-owner of Chelsea Football Club in the Premier League.