Lakers sold at record price

Lakers Sold Again in Record $12.5 Billion Deal

The Los Angeles Lakers are changing hands again — and somehow, the price tag has gotten even bigger.

Josh Kushner and former Disney CEO Bob Iger have agreed to purchase the Lakers in a deal valuing the franchise at a staggering $12.5 billion, setting a new record for a U.S. professional sports franchise. The deal still requires approval from the NBA's Board of Governors.

The stunning part isn't just the number.

It's how quickly we're doing this again.

Mark Walter purchased controlling interest in the Lakers from the Buss family at a $10 billion valuation less than a year ago. Now, he's turning around and selling at a valuation $2.5 billion higher.

Not a bad year at the office.

Kushner and Iger called the opportunity to become stewards of the Lakers an honor and said their long-term goal is to build on the foundation established by Jerry and Jeanie Buss while competing at the highest level.

For one of basketball's most recognizable franchises, it's another massive change in an already eventful era.

The Buss family controlled the Lakers for more than four decades.

Now the franchise is preparing for its second ownership change in less than a year.

Apparently $10 billion Lakers didn't last very long.

Welcome to the $12.5 billion Lakers.