Jared Kushner's brother Joshua, former Disney CEO Bob Iger, buying NBA's Los Angeles Lakers team

Joshua Kushner, brother of Jared Kushner, and former Disney CEO Bob Iger have teamed up to purchase the NBA's Los Angeles Lakers for a record $12.5 billion. The buyers stated their intention for the storied basketball franchise to 'compete at the highest level.'

This transaction takes place approximately one year after a controlling stake in the team was previously sold for $10 billion to billionaire Mark Walter, the CEO of Guggenheim Partners and owner of the MLB's Los Angeles Dodgers.