Buss family's sale of Lakers ownership

The family is selling a majority stake for a valuation of $10 billion to Mark Walter, who had owned a minority stake. Control of one of the highest-profile and most valuable professional sports teams in the world is changing hands.

The Buss family is reportedly entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the lead owner of the Los Angeles Dodgers. Jeanie Buss will continue to serve in her role as Governor after the sale for "at least a number of years."

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.