The Los Angeles Lakers have been sold to former Disney CEO Bob Iger and businessman Josh Kushner for $12.5 billion.
"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. We have immense respect for the leadership and vision of Jerry and Jeanie Buss," a statement by Iger and Kushner read. "Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles."
According to ESPN, Iger and Kushner were originally involved in the NBA's expansion into Las Vegas.... but they pivoted to making an aggressive offer to buy the Lakers from Mark Walter.
Walter bought the team last year from the Buss Family for $10 billion.
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