The Los Angeles Lakers, one of the most storied franchises in the NBA, have been sold in a record deal worth $12.5bn (£9.3bn), according to the BBC. The transaction has drawn attention across the basketball world for both its scale and the speed at which it was completed.

According to the BBC, the sale was agreed in the space of a weekend, a timeframe that stands out for a transaction of this magnitude. Deals involving major sports franchises typically involve lengthy negotiations, making the pace of this agreement notable.

The BBC reports that the sale left the NBA world and fans in shock. The Lakers are among the league’s most high-profile teams, and any change in ownership of the franchise carries significance for supporters and the wider sport.

The reported figure of $12.5bn is described as a record, underscoring the growing valuations attached to elite professional sports franchises. The BBC’s report highlights the sum as a headline element of the deal.

At this stage, the available reporting focuses on the size of the sale, the speed of the agreement and the reaction it generated. Further details about the parties involved and the terms of the transaction were not included in the source material.