Los Angeles Lakers Owner, Jerry Buss, Dies at Age 80 - Central Coast News KION/KCBA

LOS ANGELES, Calif. - According to KCAL, CBS affiliate in Los Angeles, the owner of the Los Angeles Lakers has died Monday morning. Jerry Buss was 80-years-old and was suffering from an unknown form of cancer.

Buss built the LA team into a $900 million dollar company and the team won 10 NBA Championships under his ownership. He bought the team more than three decades ago in 1979. He was also part owner of the NHL team, the Los Angeles Kings but later sold the franchise.

According to reports, Buss had recently suffered several medical setbacks including blood clots in his legs in 2011 and an unknown surgery in August.