Lakers sold to Iger and Kushner for $12.5 billion amid investigation

Mark Walter has sold the Los Angeles Lakers to Bob Iger and Josh Kushner for $12.5 billion. This sale comes less than 14 months after Walter acquired the team and adds $2.5 billion to its valuation. Walter is under federal investigation for alleged tax fraud, though it is unclear if this relates directly to the sale. Iger and Kushner expressed their commitment to the Lakers and the Los Angeles community in a joint statement. The transaction requires NBA board approval and is expected to lead to shifts in franchise operations, particularly after Walter integrated Dodgers executives into the Lakers' management structure.

• 3:24 PMYahoo Sports — Lakers Sold to Kushner, Iger for $12.5B Amid Mark Walter Investigation