Billionaire Mark Walter is selling the Lakers to Bob Iger and Joshua Kushner in a $12.5B deal less than two years after he acquired the team.

The legacy NBA franchise was transferred from the Buss family last year at a $10 billion valuation.

Mark Walter sold his majority shares of the Lakers to Bob Iger and Josh Kushner for $12.5 billion, yielding a $2.5 billion profit

Josh Kushner is the younger brother of former Trump adviser Jared Kushner