By Nick Gagalis/n.gagalismedia@latinospost.com (staff@latinospost.com) | First Posted: Feb 15, 2013 09:58 AM EST

Los Angeles Lakers owner Jerry Buss has cancer and is being treated for it at the Cedars-Sinai Medical Center. The 79-year-old basketball-lifer has been in and out of the hospital in recent months and he may be near death.

It is believed that Buss and his family have known for quite a while that he had cancer, but reporters' respect for the family's wishes held the news from breaking to the public until late Thursday afternoon. The timing of the release and his recent issues seem to confirm that he is not in good shape, though no official news has been given about his status.

Buss bought the Lakers in 1979 and the team has won 10 championships since, with many almost completely different rosters going on extended runs of dominance. Current and soon-to-be Hall of Famers have worn the yellow and purple uniforms, including Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant and Shaquille O'Neal.

Buss was inducted into the Naismith Memorial Basketball Hall of Fame in 2010. He has owned part of the LA Kings and LA Sparks in the past as well, and is one of the most successful executives in the history of American professional sports.

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