The Buss family’s decision to sell a controlling stake in the Los Angeles Lakers marks the end of nearly a half-century when one of the most valuable properties in the entire sports world was run

The Buss Family has agreed to sell the controlling stake of the Los Angeles Lakers, the NBA team they have owned since 1979, to TWG Global CEO Mark Walter with a franchise valuation of $10 billion – the highest-ever for a professional sports franchise.

Jerry Buss first purchased the Lakers in 1979 for $67.5 million in a deal that also included the NHL's Los Angeles Kings and The Forum in Inglewood, California. The franchise passed down to his children after he died in 2013. The Buss family has owned about two-thirds of the Lakers prior to this sale.