Iger, Kushner to buy Los Angeles Lakers in record $12.5bn deal

Bob Iger and Joshua Kushner are set to acquire the Los Angeles Lakers for a record $12.5 billion. According to CBS News, this deal marks the second time in about a year that the Lakers will be sold to new ownership for a record fee in professional sports.

The pair confirmed the purchase to CBS LA, with Iger, former Walt Disney Company CEO, and Kushner, founder of venture capital firm Thrive Capital, releasing a joint statement. They expressed their honor in becoming stewards of the Lakers, one of the most iconic sports franchises in the world.

The sale comes less than a year after Mark Walter purchased a majority stake in the team for about $10 billion from the Buss family, as reported by multiple outlets including BBC World and BBC News. Jeanie Buss, daughter of the late Jerry Buss, retained her position as Lakers governor after the previous sale, but her future role under new ownership is unclear.

Brief written by urgent.news from Punch, Punch Nigeria, CBS News, BBC World, BBC News — 5 reports on this story. Machine-written — it may contain errors, so check the original before relying on it.