Lakers Reportedly Sold at Record-Breaking $12.5B Valuation to Josh Kushner, Bob Iger

The Los Angeles Lakers are already changing hands again.

ESPN's Ramona Shelburne reported Wednesday an ownership group led by Josh Kushner and Bob Iger is purchasing the NBA franchise at a $12.5 billion valuation.

This comes less than a year after Mark Walter was officially installed as the Lakers' majority stakeholder. Walter, who also owns the Los Angeles Dodgers, will retain his stake in the two-time defending World Series champions, Shelburne added.

The Buss family sold its controlling stake to Walter for what was then a record $10 billion. That represented a seismic change given the Busses had been in charge going back to 1979. Late patriarch Jerry Buss was synonymous with the Lakers' most successive spells in L.A.

Speaking to the California Post's Khobi Price, Iger said he plans to honor the terms of the Buss' sale to Walter, which stipulated that Jeanie Buss would remain the team's governor for at least five years.

"We have enormous respect and appreciation for Jeanie, her father and what they've contributed to this franchise," Iger said. "And we have every intention to honor the agreement that was made between Mark and Jeanie. If things change, they'll change, but we're going into this with enormous respect and appreciation for who she is and what she represents in the organization."

The Lakers' valuation climbing by $2 billion in a matter of months reflects how sports franchises continue to be a coveted asset. Earlier this summer, the Khosla family agreed to buy the Seattle Seahawks for $9.6 billion, the biggest price tag ever for an NFL team.

For Kushner and Iger, this presents a more attractive entry into the NBA ownerships than the one they initially pursued. The Los Angeles Times' Natasha Mascarenhas reported in June they were prepared to bid for the league's expansion franchise in Las Vegas.

All things considered, the Lakers are a more sound investment.

Internally, another ownership change could have a significant impact on how the Lakers are operated. On the court, there may not be a big change between Walter and the pair of Kushner and Iger.

Los Angeles has built its present and future around six-time All-Star Luka Dončić.