What happened: Josh Kushner and Bob Iger are set to buy the franchise from Mark Walter under the reported agreement. The updated valuation adds $500 million to the initial figure of more than $12 billion.
Why it matters: The $12.5 billion valuation would set a record for a professional sports franchise. The deal would transfer control less than a year after Walter completed his purchase.
By the numbers: The valuation is $2.5 billion, or 25%, above the Lakers' $10 billion sale price in 2025.
What to watch: The transaction now heads toward league review. Its closing timetable and ownership structure remain the key details to watch.