The Los Angeles Lakers, one of the top teams in NBA history, are being sold to Bob Iger, former CEO of Disney, and investor Joshua Kushner. The deal values the team at $12.5 billion, ESPN reported on Wednesday.
This sale will be a record for the franchise. It comes just a year after billionaire Mark Walter agreed to buy a controlling stake in the team for $10 billion, which was also a record at that time.
Kushner is the brother of Jared Kushner, who is married to Donald Trump’s daughter Ivanka Trump.
Walter's purchase, reported in June last year, ended the Buss family's 46-year control over the Lakers.
The Lakers have won 17 NBA championships, making them second only to the Boston Celtics.
The team has had some of the biggest stars in the league, like Kareem Abdul-Jabbar, Shaquille O’Neal, and the late Kobe Bryant.
LeBron James, who is the NBA’s all-time scoring leader, just left the team to join the Philadelphia 76ers. He spent eight years with the Lakers and won one championship.
The sale still needs approval from the NBA’s board of governors. This process can take several weeks, according to ESPN.
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