Los Angeles Lakers Sold For Record-Breaking $12 billion To Bob Iger And Josh Kushner

American businessman Bob Iger and Josh Kushner have purchased the Los Angeles Lakers in a deal valued at approximately $12.5 billion, setting a record for the most expensive sports team sale. The two announced their intentions to take ownership of the storied franchise in a joint statement, expressing their honor to become stewards of the NBA's most famous team.

The acquisition has the support of Magic Johnson, who congratulated Iger and Kushner on their purchase. Kushner, a co-founder of Thrive Capital and a minority owner of the Miami Heat, maintains a separate business career from his brother Jared, who is married to Donald Trump's daughter. The Lakers' new owners were previously involved in Las Vegas expansion talks but have now focused their efforts on the storied franchise.

The acquisition still requires approval from the NBA, which comes just a year after Mark Walter's $10 billion purchase of a controlling stake in the team.