The Buss family is selling the Los Angeles Lakers to financier Mark Walter for a record-breaking $10 billion, potentially reaching $12 billion. This makes it the most expensive sports team sale ever. Jeanie Buss will remain governor. Walter, CEO of Guggenheim Partners, already owns the Dodgers and has a history of significant investment in his teams. The sale is expected to significantly impact the Lakers' competitiveness and potentially their spending habits, with some sources anticipating increased investment. The deal is not yet finalized.

Prepared by Emily Rhodes and reviewed by editorial team.