Facing a federal investigation and a liquidity crunch, the billionaire founder of Guggenheim Partners, Mark Walter, needed only 72 hours to accept an out-of-the-blue offer from Joshua Kushner and Bob Iger to buy the Los Angeles Lakers. With his business empire under scrutiny from federal investigators, Walter was on the hunt for cash when Kushner, chief executive of Thrive Capital, reached out with a potentially gigantic offer worth $12.5 billion. The deal came together quickly as Walter needed liquidity to keep his insurance companies afloat, people familiar with the matter said.

The offer to purchase the iconic NBA franchise was accepted swiftly, highlighting the urgency of Walter's financial situation. The involvement of Iger, former Disney CEO, added credibility and star power to Kushner's proposal. The sale, if completed, would mark a record valuation for a professional sports team and reshape the ownership landscape of the Lakers.

The transaction remains subject to league approval, but the rapid acceptance signals a new era for the storied franchise. The Lakers have long been one of the most valuable teams in sports, and this offer reflects their enduring appeal to high-profile investors.