The Los Angeles Lakers are reportedly set to change hands for $12.5bn, a sum that would establish a new record for any North American sports team. Venture capitalist Josh Kushner and his business partner, Bob Iger, are the proposed buyers.
This would be the second time the team has been sold in less than a year. Mark Walter acquired the Lakers from the Buss family last October at a valuation of approximately $10bn.
The deal requires approval from the NBA’s board of governors before it can proceed. Josh Kushner is the founder of Thrive Capital, while Bob Iger is the former head of Disney and a Thrive partner.