The Los Angeles Lakers, one of the NBA's most storied basketball franchises, have been sold for a record $12.5 billion — the highest price ever paid for a sports club. The buyers are Josh Kushner, a venture capitalist and brother of Jared Kushner, and Bob Iger, former chief executive of Disney, who are acquiring the majority stake from previous owner Mark Walter. The sale comes less than a year after Walter himself bought the Lakers for $10 billion from the Buss family, meaning the club's valuation has risen by roughly 25% in that period.