NBA insiders are eyeing improvements from the Los Angeles Lakers' management and their spending habits following the team's reported sale by the Buss family.

Once approved this summer by the Board of Governors, it will be Mark Walter, the CEO of global investment firm Guggenheim Partners, who will have bought the franchise at a $10 billion valuation. Jeanie Buss is reportedly set to stay on as the team's governor (she and the Buss family will retain 18% ownership,

The Buss family, architects of 11 NBA championships, is poised to relinquish their four-decade reign over the LA Lakers, with ESPN reporting they are entering an agreement to sell a majority stake in basketball's most glamorous franchise.