Bob Iger, Josh Kushner move to buy Lakers for $12.5 billion
What's next: The sale still needs approval from the NBA Board of Governors before the pair can take control.
Bob Iger and Josh Kushner are purchasing the Los Angeles Lakers in a $12.5 billion deal, according to ESPN and a joint statement the pair gave the outlet. The transaction still requires approval from the NBA Board of Governors. In their statement, Iger and Kushner called it an honor to become stewards of one of the NBA's most iconic franchises and said they plan to build on the foundation created by former owner Jerry Buss and current team governor Jeanie Buss. The deal would put the Lakers in the hands of two high-profile investors tied to media and finance, marking a major ownership shift for one of the league's marquee teams.