(Reuters) -The Buss family, architects of 11 NBA championships, is poised to relinquish their four-decade reign over the LA Lakers, with ESPN reporting they are entering an agreement to sell a majority stake in basketball's most glamorous franchise.

The Buss family, architects of 11 NBA championships, is poised to relinquish their four-decade reign over the LA Lakers, with ESPN reporting they are entering an agreement to sell a majority stake in basketball's most glamorous franchise.

NBA insiders are eyeing improvements from the Los Angeles Lakers' management and their spending habits following the team's reported sale by the Buss family.

BBC Sport finds out more about the American businessman who is already involved with baseball, basketball, Formula 1, football, tennis and hockey.

The Los Angeles Lakers were sold to Los Angeles Dodgers owner Mark Walter for $10 billion. Colin Cowherd loves this transaction and discusses how Walter can impact the Lakers.