New Delhi, Nov. 1 -- Josh Kushner is close to becoming the owner of the Los Angeles Lakers. The Thrive Capital founder and former Disney chief executive Bob Iger agreed in August to buy the team at a $12.5 bn ( Rs.1,18,812.5 cr) valuation, a record for an NBA club, as per ESPN.

The sale is not yet complete. On October 30, ESPN and the Los Angeles Times reported that Josh Kushner and Lakers owner Mark Walter had agreed on all remaining terms at a meeting at Walter's home in Florida. The formal agreement still has to be signed. The NBA will then review it, and the league's Board of Governors must approve it before the sale becomes official. Notably, Kushner has assured Walter he has raised all the money needed to complete the deal.

Mark W...