India, June 19 -- The Buss family has agreed to sell a majority stake in the Los Angeles Lakers to Mark Walter, the CEO and chairman of holding company TWG Global, ESPN reported on Wednesday. This marks the end of an era for one of the NBA's most influential families. Neither Walter nor the Lakers have made a statement about the reported sale.

The late Jerry Buss purchased the Lakers in 1979. He died in 2013, leaving the franchise to his children. His daughter, Jeanie Buss, took over as principal owner. She will stay on as governor after the sale, ESPN's Shams Charania reported.

The Buss family agreed to sell the majority ownership of the Los Angeles Lakers to Mark Walter for approximately $10 billion, ESPN reported.

The Buss family's ...