Bob Iger, the former longtime chief executive of Disney, and Joshua Kushner, a venture capitalist, have reached an agreement to purchase the Los Angeles Lakers. This significant transaction is valued at $12.5 billion.

This change marks the second ownership transition for the Lakers in under two years. The current owner, Mark Walter, acquired the Lakers less than a year ago for $10 billion. Despite the sale, Walter has confirmed that he has no intentions of selling his other sports franchise, the Los Angeles Dodgers.

Sources confirm that Walter’s initial purchase of the Lakers from the Buss family was record-setting. When Dr. Jerry Buss acquired the team in 1979, it became a family-managed entity. Upon his demise in 2013, the management transitioned to a family trust, with Jeanie Buss serving as the team’s governor.

As noted by insiders, the financial affairs of Mark Walter are under federal investigation. This probe focuses on related-party transactions, which involve dealings between business entities with personal or business connections. These can sometimes present potential conflicts of interest, requiring meticulous examination.

In a related story, Bob Iger and his wife, Willow Bay, have announced their involvement with Angel City Football Club as controlling owners. They intend to provide $50 million in cash to support the club’s growth and resolve its financial deficits.