LA Lakers Sell for Record $12.5 Billion to Ex-Disney CEO Iger and Josh Kushner

The iconic Los Angeles Lakers basketball team is reportedly being sold to former Disney CEO Bob Iger and businessman Josh Kushner for a record-breaking sum exceeding $12 billion. This unprecedented sale marks a significant shift in the ownership of one of the NBA's most storied franchises. The transaction, if approved by the NBA Board of Governors, would set a new benchmark for the most expensive sports franchise sale in history.

The current controlling owner, Mark Walter, who acquired a majority stake from the Buss family last year, is selling the team to Iger and Kushner. Interestingly, Iger and Kushner had previously been involved in discussions regarding an NBA expansion team in Las Vegas before pivoting their interest to acquire the Lakers. This marks the second change in controlling ownership for the Lakers in under a year, following Walter's purchase from the Buss family.