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By Megan Armstrong
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Last October, the NBA Board of Governors approved Mark Walter's acquisition of a majority ownership stake of the Los Angeles Lakers.
The Buss family reportedly sold controlling interest for a reported record $10 billion to Walter, who also owns the Los Angeles Dodgers and Los Angeles Sparks.
Less than two months later, the NBA Board of Governors will have to reconvene to approve another sale.
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"The Los Angeles Lakers are being sold to American businessman Josh Kushner and Bob Iger for a record breaking price over $12 billion, multiple sources told ESPN," Ramona Shelburne reported early Wednesday. "Kushner and Iger were involved in the expansion process in Las Vegas, but a stunning turn, they pivoted to make an aggressive offer to buy the Lakers from Mark Walter."
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Shelburne later amended her report to note that the agreement is valued at $12.5 billion. The reputed ESPN reporter also relayed Walter's official statement, as read below:
“Owning the Los Angeles Lakers has been one of the great honors of my life - an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
Iger is best known as a former Disney CEO, officially exiting the role in March, and Kushner is a venture capitalist in charge of Thrive Capital and Oscar Health.
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