Los Angeles Lakers sold for $12.5 billion to Kushner and Iger

The Los Angeles Lakers have been sold for $12.5 billion to investor Josh Kushner and former Disney CEO Bob Iger. The sale marks the second time the franchise has changed hands in nine months, following Mark Walter's purchase for $10 billion last October. The transaction coincides with a federal investigation into Walter's businesses, which are currently facing scrutiny. The Lakers' valuation increase of $2.5 billion in less than a year highlights the rapid rise in sports franchise valuations.

• 12:20 PMYahoo Sports — 💣 Y! Sports AM: Bombshell buy