The $12.5 billion sale of the Lakers drove the stock of the Knicks' parent company higher, and MSG Sports posted record revenue of $1.15 billion.

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

The Lakers deal adds to a web of sports investments spanning the NBA, MLB, NWSL, soccer, hockey, and motorsports.