Basketball-Iger, Kushner purchasing Lakers for record $12.5 billion

Venture capitalist Joshua Kushner and former Disney CEO Bob Iger are on the verge of acquiring the Los Angeles Lakers for a record-breaking $12.5 billion, according to sources close to the transaction reported on Wednesday. This purchase surpasses the previous record of $10 billion set by billionaire Mark Walter in his majority stake acquisition of the team last year.

Walter's financial interests are currently under federal investigation for potential misconduct, raising questions about the new owners' backgrounds. Both Iger and Kushner, lifelong NBA enthusiasts, expressed their excitement and commitment to the iconic franchise in a joint statement. They pledged to uphold the legacy of the Lakers, led by current owners Jerry and Jeanie Buss, by competing at the highest level while serving the team, its fans, and the city of Los Angeles.

The news of the sale stunned fans and industry professionals alike, following a recent failed attempt by Kushner to bring a potential NBA expansion team to Las Vegas. This announcement follows weeks of controversy surrounding Kushner's involvement in a private equity proposal linked to FIFA, which was ultimately abandoned.