Iger and Kushner Bid Record $12.5 Billion for Los Angeles Lakers

Former Disney CEO Bob Iger and venture capitalist Joshua Kushner are teaming up to acquire the Los Angeles Lakers for a record-breaking $12.5 billion.

The proposed transaction is subject to approval from the NBA Board of Governors and completion of due diligence, according to reports.

Iger brings extensive experience in media and entertainment to the ownership group, having overseen Disney's major entertainment assets during his tenure as CEO, including ESPN.

Kushner, founder and managing partner of Thrive Capital, has previously held minority stakes in NBA franchises and has been involved in efforts to bring an expansion team to Las Vegas.

The Lakers' ownership transition comes at a significant point for the franchise, which is entering a new phase following LeBron James' departure and now centred around Luka Dončić's roster.