The Los Angeles Lakers are on the verge of a historic sale, expected to fetch $12.5bn (£9.25bn), with the deal going to Josh Kushner and former Disney CEO Bob Iger. This transaction marks a significant return for current owner Mark Walter, who acquired the franchise only a year ago for £7.4bn.

In a statement, Kushner and Iger expressed their excitement, stating, "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."

Key details of the sale include:

• Mark Walter initially purchased a 27% stake in the Lakers in 2021, later increasing it to 85%.
• The Buss family, which retained a 15% stake, has not confirmed whether it will also be sold in this deal.
• The sale is pending approval from the NBA Board of Governors.

Kushner's Thrive Capital recently gained attention regarding a potential stake sale in the World Cup, while Iger’s tenure as CEO of Walt Disney ended earlier this year. This acquisition signals a commitment from the new owners to build on the legacy of the franchise and serve its fans and the city of Los Angeles.