LAKERS SOLD FOR $12 BILLION TO KUSHNER AND IGER

The Los Angeles Lakers have been sold for $12 billion, according to reports. Josh Kushner and Bob Iger, the former chief executive of Disney, are acquiring the National Basketball Association franchise. Mark Walter, who purchased the team approximately 14 months ago, is selling the club. The reported sale price represents a record for an NBA franchise.

The transaction marks a significant change in ownership within a relatively short timeframe. Walter's acquisition of the Lakers took place in the previous year, making his tenure as owner brief. Kushner and Iger bring different backgrounds to the purchase: Iger's experience spans the entertainment industry through his tenure at Disney, whilst Kushner's business interests cover various sectors. The sale underscores continued substantial investment in major sports franchises in the United States.

The precise terms and timeline for completion of the sale have not been detailed in available reports. The transaction remains subject to NBA approval procedures. Both Kushner and Iger will assume ownership and operational control of one of the league's most prominent teams. The sale represents the latest significant ownership change among major American sports franchises.