Los Angeles Lakers are set to change hands in a $12.5 billion deal involving investors Josh Kushner and Bob Iger, a price tag that would reset the benchmark for pro sports franchise sales.
The agreement still requires a vote from the NBA’s board of governors, a step that can stretch across multiple weeks.
Multiple sources told ESPN the pair shifted from exploring a Las Vegas expansion opportunity to pursuing the Lakers with an assertive bid.
The team is being bought from Mark Walter, who took control last year after acquiring the Buss family’s stake at a valuation of around $10 billion.
"As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world," Kushner and Iger told ESPN in a joint statement.
