Josh Kushner and Bob Iger to Acquire Los Angeles Lakers
Joshua Kushner and Bob Iger have finalized an agreement to buy the Los Angeles Lakers from Mark Walter, marking the second consecutive year of ownership change for the franchise.
The sale, which is set at a record valuation of $12.5 billion, follows Walter's previous acquisition of a controlling stake in the team for $10 billion just over a year ago. Both Kushner and Iger expressed their honor in becoming stewards of the iconic franchise, emphasizing their commitment to its legacy and the city of Los Angeles.
Walter, who has been involved in significant investments in the team, acknowledged the honor of owning the Lakers and expressed gratitude to the community and the Buss family. The sale comes amid ongoing federal investigations into Walter's financial dealings, which include undisclosed loans. Kushner, known for his venture capital firm Thrive Capital, and Iger, a former Disney CEO, will need to divest Kushner's minority stake in the Miami Heat before finalizing the Lakers deal, which also requires approval from the NBA's Board of Governors.
