The Los Angeles Lakers are set to change hands in a reported record $12.5bn (£9.25bn) deal, with venture capitalist Josh Kushner among the buyers.
Key facts
- The Lakers are set to be sold for a reported record $12.5bn (£9.25bn).
- The sale comes less than a year after Mark Walter took a majority stake in the franchise.
- Venture capitalist Josh Kushner is among the buyers, according to Sky Sports.
- Sky Sports also reports Bob Iger's involvement in the deal.
The Los Angeles Lakers are set to be sold in a record-breaking deal worth a reported $12.5bn (£9.25bn), according to reports from Sky Sports and the BBC.
The sale comes less than a year after Mark Walter took a majority stake in the NBA franchise, the BBC reported.
According to Sky Sports, the franchise is being sold to Josh Kushner, the venture capitalist who was at the centre of FIFA’s proposed new commercial structure.
Sky Sports also reported the involvement of Bob Iger in the record-breaking agreement.
Both outlets described the figure as a record for the sale of the franchise, underlining the scale of the transaction within professional sport.
Further details of the deal were not provided in the source reports.
Why it matters
A $12.5bn valuation would mark a record sum for the Los Angeles Lakers, one of the most storied franchises in the NBA. The scale of the deal highlights the rising financial value of top-tier sports teams and the interest of major investors in owning them.
Frequently asked questions
How much are the Lakers being sold for?
The Lakers are set to be sold for a reported record $12.5bn (£9.25bn), according to Sky Sports and the BBC.
Who is buying the Lakers?
According to Sky Sports, the franchise is being sold to venture capitalist Josh Kushner, with Bob Iger also reported to be involved.
How recently did Mark Walter take a stake in the Lakers?
The BBC reports the sale comes less than a year after Mark Walter took a majority stake in the franchise.