The Buss family — owners of the Los Angeles Lakers since the late Dr. Jerry Buss purchased the team in 1979 — has agreed to sell its majority stake in the franchise at a record $10 billion valuation, making this the most expensive sale of a U.S. professional sports team to date.

The Lakers have been criticized over the years for pinching pennies, and one report revealed that they have cut costs to a concerning extent.

The organization welcomed a new principal owner into its mix on Wednesday, as venture capitalist Mark Walter agreed to a $10 billion deal to take control of the Jeanie Buss' majority stake in the franchise. She'll retain her responsibilities as the organization's governor.