The Los Angeles Lakers are being sold to a group led by former Disney CEO Bob Iger and investor Josh Kushner for $12.5 billion, according to multiple reports, including Telemundo 52 and El Mundo.
The deal, reported on Wednesday, marks a record price for a professional sports franchise. Telemundo 52 initially reported the figure as $12 billion, while other outlets, including Diario AS and El Confidencial, put the total at $12.5 billion. The buyers are reportedly finalizing the purchase, which would be the most expensive sale in NBA history.
Iger, who led The Walt Disney Company for over a decade, is a well-known figure in entertainment and media. Kushner, a tech investor and founder of Thrive Capital, is married to model Karlie Kloss. Their group is reportedly close to completing the transaction, according to El Mundo.
The sale would end the ownership tenure of the Buss family, which has controlled the Lakers for decades. The franchise is one of the most valuable in the NBA, with a long history of championships and a global fan base. The reported price far exceeds the previous record for an NBA team sale, reflecting the league's growing financial power and the Lakers' status as a marquee brand.
The deal still needs approval from the NBA's Board of Governors before it is finalized. Watch for confirmation from the league and any additional details on the ownership group's plans for the team.
