Buss family's sale of Lakers ownership

The cost of keeping up has been getting harder for a team that has to feed a lot of mouths. That's why the Buss family is selling a majority stake of the Lakers to Dodgers owner Mark Walter at a franchise valuation of $10 billion, a story broken by Shams Charania of ESPN and confirmed by others, including NBCLA.

The Los Angeles Lakers deal is worth a reported $10 billion. The Buss family has agreed to sell majority ownership of the Los Angeles Lakers, one of the most storied franchises in all of sports, to Los Angeles Dodgers owner Mark Walter, a source familiar with the agreement told CNN.

Minority owner Mark Walter has purchased a majority stake in the L.A. Lakers at a valuation of $10 billion. That's a record for any American sports franchise. The late Dr. Jerry Buss bought the team in 1979 for $67.5 million. The Buss family had owned 66 percent of the team.