Photo: Peter Baba

The Los Angeles Lakers are set to be sold to American businessman Josh Kushner and Bob Iger in a historic deal worth more than $12 billion, multiple sources told ESPN.

Kushner and Iger had previously been involved in discussions surrounding a potential NBA expansion franchise in Las Vegas.

However, their plans reportedly changed dramatically when an opportunity to acquire one of the league’s most valuable and recognizable franchises emerged.

Instead of continuing their push toward a Las Vegas expansion team, Kushner and Iger pivoted and submitted an aggressive offer to purchase the Lakers from Mark Walter.

Walter had only taken control of the franchise last year after buying the Buss family’s controlling interest in the team.

The deal would value the Lakers at more than $12 billion, making it the most expensive sale of a professional sports team and giving the franchise new owners for the second time in two years.