Lakers sold to Kushner and Iger for record $12.5 billion

The Los Angeles Lakers are being sold to Josh Kushner and Bob Iger for $12.5 billion. This transaction marks the second time in two years that the franchise has changed ownership, surpassing the previous record set last year when Mark Walter acquired the team for $10 billion. The Lakers remain the highest-valued sports franchise in U.S. history, previously setting the record as the only team to sell for over $10 billion. Kushner and Iger, who expressed their commitment to the team's future, approached Walter with an aggressive offer. The sale positions the Lakers above other notable team sales, including the Seattle Seahawks and Boston Celtics.

• 3:06 PMYahoo Sports — Biggest U.S. sports team sales: How Lakers broke own record with new price of $12.5 billion