India, Aug. 13 -- Less than a year after Dodgers owner Mark Walter completed his record-setting purchase of the Lakers, the iconic Los Angeles franchise is reportedly on the verge of another major ownership change. ESPN reports that Joshua Kushner and Bob Iger are set to acquire the team for $12.5 billion.

Walter's purchase of a controlling stake from the Buss family valued the Lakers at $10 billion last year, setting a record for the highest valuation of a professional sports franchise at the time. The Buss family had owned the Lakers since 1979.

Kushner, a prominent venture capitalist, and Iger, the former Walt Disney Company CEO, had previously been exploring the possibility of acquiring an NBA expansion franchise in Las Vegas.

Thei...