The Buss family's four-decade run as majority owner of the Los Angeles Lakers is ending as the NBA approved the sale of the team to Mark Walter.

Mark Walter has moved one step closer to becoming the controlling owner of the Los Angeles Lakers.

The Lakers sale is the largest for a sports franchise in global history, breaking the previous record set by the teams’ rival, the Boston Celtics, for $6.1 billion.

"Mark Walter has a long association with our leagues, having served as a minority owner of the Lakers and as the principal owner of the WNBA's Sparks for more than a decade," said NBA Commissioner Ad...