The Buss family has agreed to sell the controlling stake of the Los Angeles Lakers to TWG Global CEO and Los Angeles Dodgers owner Mark Walter, doing so with a franchise valuation of $10 billion — the most ever for a professional sports franchise,

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 has agreed to sell the majority ownership of the Lakers to Dodgers controlling owner Mark Walter and TWG Global at a valuation of approximately $10 billion.