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Bob Iger is expected to take the more active role in running the Los Angeles Lakers once the team’s $12.5 billion sale is completed.

Mark Walter agreed to sell his majority stake to Iger and businessman Josh Kushner only months after taking control of the Lakers at a valuation of around $10 billion.

Iger and Kushner had previously considered pursuing ownership of a potential NBA expansion team in Las Vegas before changing direction and making an aggressive offer for the Lakers.

The deal still requires approval from the NBA Board of Governors, with the next meeting scheduled for September.

“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” Iger and Kushner said.

“We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”

The purchase will be made through Thrive Eternal, the permanent capital holding company launched by Kushner’s Thrive Capital.

Kushner also has previous NBA ownership experience, including stakes in the Memphis Grizzlies and Miami Heat. He will have to sell his Heat stake before taking control of the Lakers.

Inside the Lakers' staggering $12.5B sale to Josh Kushner, Bob Iger https://t.co/hrY9EI69I0 pic.twitter.com/qCQ1emXdUH