Dodgers owner Mark Walter will assume a controlling interest of the team; Jeanie Buss will remain in the governor role

The Buss family’s decision to sell a controlling stake in the Los Angeles Lakers marks the end of nearly a half-century when one of the most valuable properties in the entire sports world was run

The Buss family has owned the team - one of the most iconic in sports globally - since 1979 and now has made a deal with TWG Global CEO Mark Walter, the source said. The sale is reportedly worth an estimated $10 billion (£7.45bn) - though it could increase once finalised.