Los Angeles Lakers Set for Record $12 Billion Sale

The Los Angeles Lakers are on the verge of a record-setting sale, with Josh Kushner and Bob Iger agreeing to purchase the NBA team for more than $12 billion (£9.4 billion). This transaction, reported by ESPN, would establish the Lakers as the most expensive sports franchise ever sold.

This deal follows a previous acquisition in which billionaire Mark Walter bought a controlling interest in the team from the Buss family for $10 billion (£7.8 billion) less than a year ago. If the NBA Board of Governors approves the sale, it will reflect a $2 billion (£1.6 billion) increase in the team's valuation within a year.

The $12 billion price tag significantly exceeds recent high-profile sales in European football, including Manchester United's $6 billion (£4.7 billion) sale and Chelsea's $5.2 billion (£4.1 billion) purchase. Initially, Kushner and Iger aimed to form an investment group for a new NBA franchise in Las Vegas but shifted their focus to acquiring the Lakers.