Iger and Kushner reach deal to buy Lakers from Walter

Bob Iger confirmed that he and Josh Kushner reached an agreement to purchase a majority stake in the Los Angeles Lakers from Mark Walter. The deal, valued at approximately $12.5 billion, was finalized in just three days after the duo initially pursued an expansion franchise in Las Vegas. Walter’s decision to sell his stake surprised many, as he acquired it only last October. Jeanie Buss will continue as the team's governor, a position she has held since the Buss family's ownership transition. League approval is needed for the sale to become official, which may take several weeks.

• 5:59 AMYahoo Sports — Iger: Agreement to purchase Lakers 'came together in three days'