Lakers to be sold to Bob Iger, Joshua Kushner 1 year after Mark Walter bought team

Key Points:

• Mark Walter is selling the Los Angeles Lakers to former Disney CEO Bob Iger and Joshua Kushner, with the deal valuing the team at $12.5 billion, up from the $10 billion valuation when Walter purchased it 14 months ago.
• Bob Iger, who recently stepped down as Disney CEO, and Kushner, who holds a minority stake in the Miami Heat, expressed commitment to building on the Lakers' legacy and competing at the highest level.
• The sale requires approval from the NBA’s board of governors and marks a significant change for the franchise, which was owned by the Buss family for over four decades before Walter's brief tenure.
• Joshua Kushner is involved in a separate controversy regarding a failed $4.2 billion FIFA investment plan, with UEFA considering legal action related to the matter.
• Walter, also majority owner of the Los Angeles Dodgers and Sparks, called owning the Lakers an extraordinary investment and expressed confidence in the team's future under new ownership amid ongoing federal investigations into his insurance companies.