(Los Angeles, CA) -- The Los Angeles Lakers are mourning the death of longtime owner Jerry Buss. The "L.A. Times" reports the 80-year-old passed away this morning after battling an undisclosed form of cancer. He purchased the Lakers, NHL's Kings and The Forum in 1979 for nearly 68-million-dollars in what was the largest transaction in sports history at that time. Under Buss, the Lakers won ten NBA championships with such stars as Kareem-Abdul-Jabbar, Magic Johnson, Kobe Bryant and Shaquille O'Neal. He was inducted into the Basketball Hall of Fame in 2010 as a contributor.