The family is selling a majority stake for a valuation of $10 billion to Mark Walter, who had previously owned a minority stake in the team, a source told NBCLA.

Los Angeles Lakers set to be sold for $10 billion to group which also owns the Dodgers - Mark Walter is part of the ownership of many other franchises, including the Dodgers and Chelsea FC

The Buss family has agreed to sell majority ownership of the Los Angeles Lakers, one of the most storied franchises in all of sports, to Los Angeles Dodgers owner Mark Walter, a source familiar with the agreement told CNN.