While vacationing on a yacht somewhere on the high seas, Lakers legend Magic Johnson shared his thoughts on Mark Walter taking control of another L.A. franchise.

Both sides confirm that Jeanie Buss will remain governor of the franchise and continue to “oversee all team operations on a day-to-day basis for the foreseeable future.”

Businessman Mark Walter’s acquisition of the majority ownership stake of the Los Angeles Lakers, in a deal that puts the franchise valuation at $10 billion, is expected to close in the third or fourth quarter of this year.