Topline:

Why it matters: The Lakers are the NBA's most valuable franchise, valued at $10 billion when the deal was first reported in June. It's the highest valuation ever set for a professional sports team. The sale also marks a major flashpoint in the Lakers history. The Buss family has owned the team since 1979, when Dr. Jerry Buss bought them (along with The Forum and the L.A. Kings) from Jack Kent Cooke.

The backstory: Mark Walter is a billionaire whose investment group, Guggenheim Partners, also owns majority stakes in the Los Angeles Dodgers and the Los Angeles Sparks of the WNBA. Since he took over the Dodgers in 2012, the team has made the playoffs 13 straight times, won five National League Championships and two World Series.

What's next: As far as Lakers fans are concerne

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