Josh Kushner, Bob Iger Buy Los Angeles Lakers for Record $12.5 Billion

A group led by Josh Kushner and former Disney chief Bob Iger has purchased the Los Angeles Lakers for $12.5 billion, the highest price ever paid for a sports franchise. The deal surpasses the $9.6 billion paid for the NFL's Seattle Seahawks in July. Iger, a lifelong New York Knicks fan, once told JJ Redick that rooting for the Lakers was "not in my DNA." Despite that past sentiment, he has now become part-owner of the Los Angeles team. The sale marks a new benchmark in sports team valuations, reflecting the Lakers' status as one of the most iconic franchises in basketball. Details about the ownership structure and the previous owners were not disclosed in the reports. The transaction closes a chapter for the Lakers and opens a new one under high-profile investors from the worlds of media and finance.