The Los Angeles Lakers have been sold for $12.5 billion to investor Josh Kushner, with the deal finalized at the Florida home of Dodgers controlling owner Mark Walter, according to a California Post report.
The transaction, reported by Melissa Rohlin and Khobi Price, marks one of the most expensive sports franchise sales in history. Kushner, a venture capitalist and co-founder of Thrive Capital, becomes the new controlling owner of the 17-time NBA champions.
The signing took place at Walter's Florida residence, where the Dodgers owner has held a minority stake in the Lakers through his family's investment vehicle. Tommy Lasorda Jr., son of the late Dodgers legend, was photographed at a stadium wearing a Dodgers jacket, highlighting the connection between the two Los Angeles franchises.
The Lakers' iconic logo was displayed on a glass window at the property, symbolizing the transfer of one of the NBA's most storied franchises.
