Charania noted that Jerry Buss, who died in 2013, bought the Lakers for $67.5 million in 1979. The team is now valued at approximately $10 billion, marking the largest sale of a professional sports team in the world. This article will be updated soon to provide more information and analysis.

The Buss family is finalizing an agreement to sell majority ownership of the Los Angeles Lakers, valued at $10 billion, the highest in program sports in the United States, to billionaire Mark Walter.

The Buss family has agreed to sell the controlling stake of the Los Angeles Lakers to TWG Global CEO Mark Walter, doing so with a franchise valuation of $10 billion — the most ever for a professional sports franchise, a person with knowledge of the agreement said Wednesday.