The Lakers traded for a record-breaking amount, the most any franchise has ever been paid.

Josh Kushner, brother-in-law of former U.S. President Donald Trump, has acquired a controlling stake in the Los Angeles Lakers, one of the most valuable franchises in the National Basketball Association (NBA). The deal, valued at $12.5 billion, marks a historic moment in sports ownership, according to reports from multiple sources cited by ESPN. Kushner, along with media mogul Bob Iger, will take over the team from current owner Mark Walter, who had purchased the majority share from the Buss family last October for approximately $10 billion. Kushner and Iger expressed their excitement about the acquisition in a joint statement. They described themselves as long-time NBA enthusiasts and emphasized their respect for the legacy of the franchise's previous owners, Jerry and Jeanie Buss. Their commitment includes maintaining the team's competitive edge and honoring its deep connection to Los Angeles. The transition, however, requires approval from the NBA Board of Governors, a process that could take several weeks. The board is scheduled to meet again next month in New York. Mark Walter, who had owned the Lakers for less than a year, announced his decision to step down as owner. He praised the experience of being part of the Lakers' history and acknowledged the support he received from the team's players, staff, and fans. Despite his departure, Walter retains ownership of other sports entities, including the Los Angeles Dodgers of Major League Baseball, the Los Angeles Sparks of the Women's National Basketball Association, and a team in the Professional Women’s Hockey League. Through his company, TWG Motorsports, he also controls several automotive racing teams, including Cadillac in Formula 1. Walter's involvement in the Lakers comes amid ongoing legal scrutiny. Federal prosecutors in Manhattan are investigating whether two insurance companies under his control, Delaware Life Insurance Co. and Clear Spring Life and Annuity Co., failed to disclose ties between certain private credit investments and other businesses controlled by him. According to Bloomberg, the Securities and Exchange Commission (SEC) has also launched a parallel investigation into these matters. The acquisition of the Lakers by Kushner and Iger represents a significant shift in the landscape of professional sports ownership. Kushner, known for his ventures in technology and real estate, has previously been linked to various business endeavors, while Iger, former CEO of The Walt Disney Company, brings extensive experience in media and entertainment. Their combined resources and influence could reshape the direction of the Lakers both on and off the court. The sale of the Lakers follows a broader trend of high-profile acquisitions in major sports leagues. Over the past decade, the value of NBA franchises has surged, driven by increasing revenue streams from television deals, sponsorships, and global fan bases. The Lakers, in particular, have maintained a dominant presence in the league, winning multiple championships and drawing massive audiences worldwide. As the new owners prepare to assume control, they face the challenge of living up to the expectations of a passionate fan base and a storied franchise. Their plans for the future remain unclear, though they have indicated a desire to build upon the foundation laid by previous generations of Lakers leadership. With the NBA Board of Governors set to review the transaction, the path forward for the Lakers will depend on regulatory approvals and the strategic vision of their new owners. The potential impact of this acquisition extends beyond the basketball court. It highlights the growing role of wealthy individuals and corporate leaders in shaping the future of professional sports. As the Lakers enter this new era under Kushner and Iger, the focus will be on how effectively they can navigate the complexities of modern sports management and maintain the team's legacy.