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NBA's Los Angeles Lakers reportedly set for record $12.5bn sale
🇳🇬 Nigeria /Sports

NBA's Los Angeles Lakers reportedly set for record $12.5bn sale

From Vanguard · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News From a news agency New plan
  • The Los Angeles Lakers are reportedly being sold for $12.5 billion, a record price for an NBA team.
  • The deal would see former Disney CEO Bob Iger and investor Joshua Kushner acquire the team.
  • This sale follows a previous record deal last year and ends the Buss family's 46-year ownership.

The iconic Los Angeles Lakers are reportedly on the verge of a record-breaking sale, with reports indicating a deal valued at $12.5 billion.

Former Disney CEO Bob Iger and investor Joshua Kushner are said to be the prospective buyers of the storied NBA franchise. This potential transaction would shatter the previous record set just about a year ago when billionaire Mark Walter agreed to purchase a controlling interest for $10 billion.

The sale marks the end of an era for the Buss family, who have owned the Lakers for 46 years. During their stewardship, the team secured 17 NBA championships, solidifying its status as one of the league's most successful franchises. The Lakers have been home to legendary players such as Kareem Abdul-Jabbar, Shaquille O’Neal, and the late Kobe Bryant.

Kushner is notably the brother of Jared Kushner, former President Donald Trump’s son-in-law. The deal still requires approval from the NBA’s board of governors, a process that could take several weeks.

DistantNews Editorial

Originally published by Vanguard in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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