The Los Angeles Lakers, owned by the Buss family, have sold their majority ownership stake in the NBA team for $10 billion to businessman Mark Walter.
The sale is the largest for any professional sports team in the world. Jeanie Buss will continue to serve as Lakers governor, ESPN reported.
The Lakers, who have won 16 NBA championships, including six since 2000, are known for iconic players like Magic Johnson, Kareem Abdul Jabbar, the late Kobe Bryant, and current star Lebron James. They had been owned by the Buss family since 1979, when Jerry Buss purchased the franchise from Jack Kent Cooke for $67.5 million along with the Los Angeles Kings and the Los Angeles Forum.
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Jerry Buss died in 2013, passing the team’s leadership torch
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