The Lakers also enjoyed two legendary dynasties during the Buss family's ownership. The "Showtime" Lakers of the 1980s won five NBA titles and appeared in the Finals eight times.

The Buss family’s decision to sell a controlling stake in the Los Angeles Lakers at a franchise valuation of $10 billion marks the end of nearly a half-century when one of the most valuable properties in the entire sports world was run by an eccentric father and his sometimes squabbling children.

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.