Owners for 46 years, Buss family agrees to sell Los Angeles Lakers for $10 billion 

The most iconic franchise in the NBA is for sale

and the reported asking price will likely shatter the record set just three months ago

Multiple reports say Los Angeles Lakers owner Jeannie Buss has agreed to sell her majority stake to Mark Walter

the CEO of diversified holding company TWG Global. The Lakers transformed the league with their showtime style of play in the 1980s

and have won 17 NBA championships. second only to the 18 of the Boston Celtics

Stars like Magic Johnson, James Worthy, and Kareem Abdul-Jabbar paved the way for the duo of Shaquille O'Neal and Kobe Bryant

and the present-day tandem of LeBron James and Luka Doncic. It's one of the greatest legacies in team sports

In December, Forbes ranked the Lakers 8th on their list of the world's most valuable sports teams at $7.1 billion

Only the Golden State Warriors and the New York Knicks are worth more in the NBA

In March, the Boston Celtics, 19th on the Forbes list, were sold for a record $6.1 billion to a group led by private equity executive Bill Chisholm

ESPN is reporting the Lakers' sale could top $10 billion, which would mark the largest ever sale of a U.S. professional sports team

Along with his holding company Mark Walter is the majority owner and chairman of the Los Angeles Dodgers and has a stake in several other pro franchises He been a minority stakeholder of the Lakers since 2021

Reports say Jeannie Buss will remain governor of the team after the sale

One of the major decisions Buss and Walter will have to solve this summer is how to get one last championship run out of superstar LeBron James

Reports say James will likely opt in for the final year of his contract at $52 million

but he's not happy about watching the finals at home. It'll be the same offseason of disappointment and unfulfillment

have an opportunity to play longer and give yourself an opportunity to play for the Larry O'Brien trophy

so nothing changes for me. The late Jerry Buss purchased the Lakers from Jack Kent Cook for $67.5 million in 1979

and it's been in the Buss family for 46 years. Magic Johnson gave his stamp of approval to the sale on social media Wednesday afternoon

Laker fans should be ecstatic. A few things I can tell you about Mark

He's driven by winning, excellence, and doing everything the right way. And he'll put in the resources needed to win

League executives have yet to comment on the report, but the sale must be approved by the NBA Board of Governors before it becomes official

For Straight Arrow News, I'm Chris Francis