Dodgers owner Mark Walter will assume a controlling interest of the team; Jeanie Buss will remain in the governor role

The Dodgers have won two World Series titles since Walter and his group made the purchase just over a decade ago. The team payroll is exceeded only by the New York Mets, at $323 million against $321 million. The next closes team is the New York Yankees at $293.5 million.

Jerry Buss first purchased the Lakers in 1979 for $67.5 million in a deal that also included the NHL's Los Angeles Kings and The Forum in Inglewood, California. The franchise passed down to his children after he died in 2013. The Buss family has owned about two-thirds of the Lakers prior to this sale.