Los Angeles Lakers are being sold again: Now, to Josh Kushner and Bob Iger for $12.5bn

Los Angeles Lakers are being sold again. It was only 10 months ago that NBA approved the sale of the basketball franchise for $10 billion, from the Buss family, who owned the team since 1979, to Mark Walter, CEO of the holding company TWG Global.

But it has been revealed that Josh Kushner and Bob Iger are buying a controlling stake of the iconic team, raising the price to $12.5bn. Josh Kushner is brother of US President Donald Trump's son-in-law Jared (and reportedly involved in the original plans by FIFA to sell World Cup stakes to investors), and Bob Iger is the former CEO of The Walt Disney Company, from 2005 to 2020 and from 2022 to 2026.

"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," Kushner and Iger said in a statement. "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."

The sale of the controlling stake of Los Angeles Lakers, for $12.5bn, makes it the most expensive sale of a sports club or team in history, behind the previous sale of the team last year, $10bn, and the Seattle Seahawks sale this year for $9.6bn, according to ESPN.