Josh Kushner and Disney CEO Bob Iger are buying Mark Walter's majority stake in the Los Angeles Lakers at a team valuation of $12.5 billion.

The Los Angeles Lakers are being sold to businessmen Josh Kushner and Bob Iger for a record-breaking price, the second such sale in a year.

One year after buying a controlling interest in the Los Angeles Lakers from the Buss family, team owner Mark Walter is now selling the historic NBA franchise.