The Buss family has agreed to sell majority control of the Los Angeles Lakers, valuing the franchise at a record-setting $10 billion.

The Buss family has agreed to sell a majority stake of the Los Angeles Lakers to businessman Mark Walter in a deal that values the team at $10 billon, according to people with knowledge of the terms. The sale would mark a new record for NBA valuations. The Crypto.com Arena, where the Lakers play, is owned by AEG and is not included in the deal.

The Buss family has agreed to sell the controlling stake in the Los Angeles Lakers with a franchise valuation of $10 billion — the most ever for a professional sports franchise.