Los Angeles Lakers owner Mark Walter is reportedly moving forward with the sale of the franchise to a group led by venture capitalist Joshua Kushner and former Disney CEO Bob Iger for a record $12.5 billion, according to new reporting.
The ownership group is now seeking additional investors with minimum commitments of $250 million each. The development comes as recent reports challenge earlier claims of a multibillion-dollar financing shortfall that had cast doubt on the deal's viability.
Kushner, the brother of Jared Kushner, and Iger have been working to finalize the transaction, which would represent the most expensive sale in North American sports history. The Lakers, one of the NBA's most valuable franchises, have seen increased commercial interest following the acquisition of star player Luka Dončić.
