ESPN’s Ramona Shelburne reports that the Lakers are being sold to Josh Kushner and Bob Iger for a record $12.5 billion.
Less than one year after Mark Walter purchased a controlling share of the Lakers from the Buss family for $10 billion, the storied franchise is on the verge of changing hands again. Kushner and Iger were initially involved in the expansion process in Las Vegas, so it remains to be seen what Wednesday’s news means for that bid (and, by extension, a possible expansion team in Seattle). The transaction still requires league approval to go through, and if it does, Kushner will have to give up his minority share of the Miami Heat.