American businessmen Josh Kushner and Bob Iger are buying the team for a record-breaking price of more than $12 billion, ESPN’s Ramona Shelburne reported Wednesday.

Kushner and Iger were involved in the NBA expansion process to Las Vegas, but instead pivoted to buy the Lakers, per Shelburne.

They purchased the team from Mark Walter, who bought a controlling interest in the franchise from the Buss family last year for $10 billion.