NBA's Los Angeles Lakers to be sold for $12.5 bn: ESPN

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The NBA's Los Angeles Lakers are being sold for $12.5 billion to former Disney CEO Bob Iger and investor Joshua Kushner, according to ESPN. The new owners expressed honor in becoming stewards of one of the most iconic sports franchises globally.

The Los Angeles Lakers, one of the most successful teams in NBA history, are being sold to former Disney CEO Bob Iger and investor Joshua Kushner in a deal valued at $12.5 billion, ESPN reported Wednesday."As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world," Kushner and Iger said in a statement to ESPN. "We have immense respect for the leadership and vision of Jerry and Jeanie Buss.