Lakers' Record-Breaking $12.5B Sale Terms Reportedly Finalized By Mark Walter, Josh Kushner

The sale of the Los Angeles Lakers has reportedly been finalized.

According to ESPN's Ramona Shelburne , Lakers governor Mark Walter and Thrive Capital founder Josh Kushner have "agreed on all outstanding terms of the sale of the team at a $12.5 billion valuation."

The agreement will be reviewed by the NBA once it is signed.

Kushner and former Disney CEO Bob Iger initially reached a deal with Walter to purchase the Lakers for $12.5 billion on Aug. 12, making it the largest franchise sale in sports history.

The sale occurred just under a year after Walter agreed to purchase the Lakers from the Buss family for $10 billion.

Following that sale, the contract included a clause stating that Jeanie Buss would remain the team's governor for a period of at least five years.

However, ESPN's Shams Charania later reported that Iger and Kushner were purchasing the remaining 17.8 percent ownership stake from the Buss family. It meant that Buss no longer met the required ownership percentage to remain in her governor position.

Jeanie eventually challenged the legality of the vote of her siblings to sell the remaining shares in the franchise, which led to an ownership dispute within the family.

Still, it appears as though the sale will be completed following the NBA's review.

The Lakers have advanced to the playoffs in six of the past seven years, winning a championship in 2020. This season, they own a 4-1 record through five games with stars Luka Dončić and Austin Reaves leading the way.