Shams Charania of ESPN is reporting that the Buss family is selling majority ownership of the Los Angeles Lakers to Mark Walter, currently a Lakers minority owner, for a valuation of about $10 billion. That makes the deal the largest sale of a U.S. professional sports franchise in history.
Charania reports that Jeanie Buss will carry on as Lakers governor.
The Buss family have been the majority owner of the Lakers since 1979 when the late Jerry Buss purchased the team for $67.5 million. That deal also included the Los Angeles Kings and the the Los Angeles Forum, former home of both the Lakers and Kings.