The Los Angeles Lakers are to be sold in a record-breaking deal reportedly worth $12.5billion (£9.3billion).The deal comes less than a year after Mark Walter took a majority stake in the NBA franchise.Josh Kushner, whose brother is the son-in-law of US President Donald Trump, is set to buy control alongside former Disney chief executive Bob Iger.In a joint statement, the pair said: “As lifelong NBA fans, we are deeply honoured for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world.”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.”Jerry Buss purchased the Lakers for £50million in 1979, which included the Los Angeles Kings hockey team and an arena in LA.Following his death in 2013, ownership was given to his six children in a Trust before a deal was settled with Walter, who also owns a stake in the LA Dodgers with co-owner of Chelsea, Todd Boehly.Jerry Buss purchased the Lakers for £50million in 1979 | GETTYWalter said: “Owning the Los Angeles Lakers has been one of the great honours of my life.”It has been an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family.”I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter.”The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”The Lakers have 17 NBA titles, just one less than the record held by the Boston Celtics | GETTYLeBron James departed the Lakers at the end of this season, joining the Philadelphia 76ers.Serbian Luka Doncic is now the team’s main star, and he welcomed the takeover in a message on social media.He wrote: “Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA.”I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise.Luka Doncic welcomed the takeover news | REUTERS”I look forward to meeting Josh and Bob so we can get to work building something special in LA together.”The Lakers have 17 NBA titles, just one less than the record held by the Boston Celtics.Kushner’s deal comes just after the recent FIFA Forward Enterprise controversy, in which he was expected to lead the proposed investor group.