The Lakers are being sold to Josh Kushner and Bob Iger for $12.5 billion, per ESPN. The sale represents a record price for an NBA franchise.
Mark Walter purchased a controlling stake in the Lakers 14 months ago at a then-record valuation of $10 billion, with the NBA's Board of Governors approving the deal less than 10 months ago. His ownership tenure will be markedly brief if this sale is completed.
Kushner and Iger released a statement to ESPN confirming the agreement, per reporting from Ramona Shelburne. Most outlets report the sale price as $12.5 billion, though one source lists it as $12 billion.