A blockbuster $12.5B deal as Josh Kushner and Bob Iger buy the Los Angeles Lakers, AP source says

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Josh Kushner and Bob Iger are finalizing a blockbuster deal valued at $12.5 billion to purchase the Los Angeles Lakers, making it one of the most expensive sports franchise sales. This follows the previous valuation of $10 billion when Mark Walter acquired a controlling stake from the Buss family.

The Los Angeles Lakers are being sold to businessmen Josh Kushner and Bob Iger for a record-breaking price, the second such sale in a year. This sale agreement is $12.5 billion, according to a person familiar with the terms who spoke to The Associated Press on condition of anonymity Wednesday because neither side revealed specific details. ESPN first reported that Kushner and Iger are buying the NBA's most valuable franchise, which was valued last year at $10 billion when Mark Walter purchased a controlling stake from the Buss family.