Los Angeles Lakers sold to Mark Walter for $10 billion

And now, the Lakers are sold with a valuation of $10 billion — not just a record, but a total smashing of the previous mark. The Lakers have been in the control of the Buss family for 46 years, the longest of any current NBA franchise.

The Buss family has entered an agreement to sell majority ownership of the Lakers to Mark Walter, the CEO of diversified holding company TWG Global.

The Buss family's decision to sell a controlling stake in the Los Angeles Lakers at an eye-popping franchise valuation of $10 billion marks the end of nearly a half-century when one of the most valuable properties in the sports world was run by an eccentric father and his sometimes squabbling children.