The Buss family — owners of the Los Angeles Lakers since the late Dr. Jerry Buss purchased the team in 1979 — has agreed to sell its majority stake in the franchise at a record $10 billion valuation, making this the most expensive sale of a U.S. professional sports team to date.

The Lakers are one of the most storied franchises in National Basketball Association history. The team was valued at $7.1 billion by Forbes last year.

NBA insiders are eyeing improvements from the Los Angeles Lakers' management and their spending habits following the team's reported sale by the Buss family.

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Dodgers owner Mark Walter will assume a controlling interest of the team; Jeanie Buss will remain in the governor role

The Los Angeles Lakers will have a new owner for the first time in almost five decades, and they sold for a record-setting price. The Lakers will sell to Mark Walters for a record-setting deal of $10 billion.

Many people, including Dodgers manager Dave Roberts, feel the change in ownership for the Lakers will be a positive one.

The Los Angeles Lakers will have new majority ownership, selling to Mark Walter, the CEO of TWG Global and controlling owner of the Dodgers.

The billionaire slated to take over the controlling interest in the Los Angeles Lakers has built a career leading businesses investing in everything from sports franchises to artificial intelligence.