Explainer-NBA-Breaking down the Buss family's sale of LA Lakers at $10-billion valuation

The Buss family, architects of 11 NBA championships, is poised to relinquish their four-decade reign over the LA Lakers, with ESPN reporting they are entering an agreement to sell a majority stake in basketball's most glamorous franchise.

The following is the breakdown of the deal:

WHAT IS AT STAKE?

Lakers minority owner Mark Walter is set to take majority ownership in a deal valuing the Lakers at about $10 billion, making it the most expensive U.S. sports team valuation in history.

The deal will end family control of the Lakers.

The Buss family will retain a minority share of just over 15 per cent for a period of time after the deal, ESPN reported, bringing to a close its stewardship of a franchise that became synonymous with Hollywood allure and championship excellence.

Reuters could not immediately ascertain what Walter's new stake in the team would be. He purchased a minority stake in the Lakers with Todd Boehly in 2021.

The previous record for biggest sports deal was held by the Boston Celtics, who agreed in March to be sold for $6.1 billion.

WHO ARE THE LAKERS?

The Lakers are one of the most storied franchises in National Basketball Association history. The team was valued at $7.1 billion by Forbes last year, behind only the Golden State Warriors and New York Knicks in the NBA.

They are the second-most successful NBA team with 17 championships. The Celtics have 18.

Jerry Buss, who bought the Lakers for $67.5 million in 1979, transformed them into one of the most well-known franchises in professional sports. The team won five championships during the celebrated "Showtime" era of the 1980s.

The Lakers have LeBron James, arguably the league's biggest star, on their roster. They also snapped up Slovenian Luka Doncic in a