The Los Angeles Lakers are changing hands once again, this time in a blockbuster transaction that values the legendary NBA franchise at an unprecedented $12.5 billion — the highest price ever paid for an American professional sports team. According to ESPN, businessman Josh Kushner and former Disney CEO Bob Iger are purchasing the club from Mark Walter, eclipsing every previous record for a U.S. sports franchise sale.

“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 to The Post.

“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.”

Walter, who also serves as the principal owner of the Los Angeles Dodgers, only acquired the Lakers’ controlling stake from the Buss family last year in a transaction that valued the franchise at roughly $10 billion, which was itself a record-setting figure at the time.

The NBA’s Board of Governors officially signed off on Walter’s purchase last October, with Jeanie Buss remaining the team’s governor under an agreement that kept her in that role for five years following the sale.

According to ESPN, Walter will continue to retain ownership of the Dodgers despite selling the Lakers.

League approval is still required before the latest sale can be finalized. The transaction is expected to take several weeks, with the NBA Board of Governors not scheduled to meet again until September.

The record-breaking sale comes as Walter’s Guggenheim Investments is facing scrutiny from federal regulators. The U.S. Attorney’s Office in Manhattan and the Securities and Exchange Commission are reportedly investigating how approximately $16 billion in loans made to companies affiliated with Walter or his TWG Global organization ultimately ended up with insurance companies under his ownership after passing through a third party, according to The Wall Street Journal.

“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,” Walter said in a statement to ESPN.

“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.”

Before reaching an agreement to purchase the Lakers, Kushner and Iger had reportedly been pursuing an NBA expansion franchise in Las Vegas. Instead, they shifted their focus to acquiring one of the league’s most storied organizations in what has become the richest sale in American sports history.

Kushner, 41, is the founder and managing partner of Thrive Capital. He is the son of U.S. Ambassador to France Charles Kushner and the brother of White House official Jared Kushner.

Iger, 75, led The Walt Disney Company during two separate stints as chief executive, serving from 2005 through 2020 before returning for a second term from 2022 until stepping down earlier this year.

In 2024, Iger and his wife, Willow Bay, became the controlling owners of Angel City Football Club of the National Women’s Soccer League.

The new ownership group inherits a Lakers franchise entering a new chapter following the end of LeBron James’ tenure. With James now playing for the Philadelphia 76ers after spending eight seasons in Los Angeles and helping deliver one NBA championship, the Lakers are building around superstar Luka Doncic while also strengthening the roster by acquiring center Walker Kessler and bringing back guard Austin Reaves.

{Matzav.com}