Jerry Buss is considered one of the greatest owners in sports history. (flipchip, Creative Commons)

Buss is in grave condition, and Radar Online has also reported that Lakers players have been calling and visiting Buss because they think his days are numbered. 

Buss bought the Lakers, along with the Los Angeles Kings and The Forum, in 1979 from Jack Kent Cooke. The deal was worth $67.5 million, which was the biggest purchase in sports history at the time. The Forum was the home of the Lakers until they moved to the Staples Center in 1999.

MORE: Lakers, Clippers Set For Valentine's Day Clash

Under Buss, the Lakers have won 10 championships. He's known around sports as one of the most successful and beloved owners of all time. 

Buss was responsible for the Lakers acquiring several legendary players such as Kareem Abdul-Jabbar, Magic Johnson, Shaquille O'Neal and Kobe Bryant. 

Buss has six children, including a few that are well known within the basketball community. Currently his son, Jim, is in charge of the organization's personnel moves and is the Lakers Executive Vice President of Basketball Operations. One of his daughters, Jeanie, is engaged to coaching legend Phil Jackson. 

MORE: Staples Center, L.A. Kings For Sale

Buss had been deteriorating over the years. A blood clot hospitalized him in 2011 and he had surgery in the summer of 2012. The information regarding why he needed the surgery was undisclosed. 

The 79-year-old has not attended a Lakers game this season due to these health concerns. The Buss family has also continued to state that the Lakers are not for sale. 

Reach Executive Producer Max Meyer by email, or follow him on Twitter.