LOS ANGELES, United States: The Los Angeles Lakers, one of the most successful teams in NBA history, are being sold to former Disney CEO Bob Iger and investor Joshua Kushner in a deal valued at $12.5 billion, ESPN reported Wednesday.
The sale, which would mark a record-breaking valuation for a North American sports franchise, comes only about a year after billionaire Mark Walter agreed to buy a controlling interest in the team in a then-record $10 billion deal.
Kushner is the brother of Jared Kushner, US President Donald Trump’s son-in-law.
“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 said in a statement to ESPN.
“We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans and the city of Los Angeles.”
