The decision to sell a controlling stake in the Lakers marks the end of nearly a half-century when one of the most valuable properties in sports was run by the Buss family.

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 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.