Iger-Kushner Duo Seals $12.5 Billion Deal for LA Lakers

Former Walt Disney Company CEO Bob Iger and businessman Josh Kushner are set to purchase the Los Angeles Lakers for $12.5 billion, according to ESPN.

The sale still needs approval from the NBA Board of Governors, as Mark Walter's conglomerate TWG Global holds a majority stake in the team.

Iger and Kushner have expressed their respect for the Buss family, particularly Jerry and Jeanie, who previously owned the Lakers. They plan to build on this foundation, compete at the highest level, and serve the team, its fans, and the city of Los Angeles.

Walter, who also owns the LA Dodgers, reflected on his time with the Lakers, citing the 'community, the fans, and a city that treats this team as family.'