A significant business deal has taken place, involving the purchase of a majority ownership stake in the Lakers. The buyers are Bob Iger and Josh Kushner, and the seller is Mark Walter.

The valuation of this purchase is reportedly $12.5 billion, a historic amount. As of late Wednesday morning, the reality of this deal was still being absorbed by those involved, including Bob Iger.

Further details about this transaction can be found in the Galveston County Daily News, which reported on the purchase and its significant valuation.