New Delhi, Aug. 12 -- The Los Angeles Lakers are set to change hands in a landmark transaction that has sent shockwaves through the sports world. American businessmen Josh Kushner and Bob Iger have agreed to purchase the iconic NBA franchise for more than $12 billion. The price tag shatters previous records and highlights the soaring value of elite sports teams in major markets.

This move marks a dramatic shift for Kushner and Iger. Both had been linked to the NBA's expansion efforts in Las Vegas. Instead of pursuing a new franchise there, they redirected their focus and submitted a bold offer for the Lakers. The sellers are Mark Walter and his group, who only recently took majority control of the team.

Mark Walter acquired a controllin...