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 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 Buss family’s decision to sell a controlling stake in the Los Angeles Lakers at a franchise valuation of $10 billion marks the end of nearly a half-century when one of the most valuable properties in the entire sports world was run by an eccentric father and his sometimes squabbling children.