Lakers sold for record $12.5 billion

The Los Angeles Lakers have been sold to a partnership led by Bob Iger and Josh Kushner for a staggering $12.5 billion, the highest price ever paid for a sports franchise.

The sale came less than a year after previous owner Mark Walter purchased the team, with federal probes into his insurance loans reportedly influencing the decision.

Iger, former Disney CEO, and Kushner, a venture capitalist, plan to 'Dodgerize' the franchise, mirroring the commercial success of the LA Dodgers.

The deal has raised questions about future plans for the team, including the possibility of LeBron James staying if the sale had happened sooner.