What happened: The transaction would transfer control from Mark Walter, whose group took over last year. Josh Kushner and Bob Iger pivoted to Los Angeles after exploring an NBA expansion bid in Las Vegas.
Why it matters: The acquisition places the Los Angeles Lakers under a venture capitalist and a former Disney chief ahead of the 2026-27 season. Their pivot also removes a prospective ownership group from the Las Vegas expansion picture.
By the numbers: The $12.5 billion price is $2.5 billion, or 25%, above the franchise’s $10 billion valuation last year.
What to watch: The NBA Board of Governors must approve the transfer, a review that could take several weeks.