An article summarized by ESPN:
The Los Angeles Lakers are reportedly being sold to billionaire investors Josh Kushner and Bob Iger for $12.5 billion, setting a new record for the most expensive sports franchise sale. Kushner, founder of Thrive Capital, and Iger, the former Disney CEO, had been involved in discussions surrounding a potential NBA expansion team in Las Vegas before pivoting to make a bid for the Lakers. The deal would mark a major change in ownership after Mark Walter purchased controlling interest in the team from the Buss family last year at a roughly $10 billion valuation.
The sale still requires approval from the NBA’s board of governors, which is expected to consider the deal at its meeting next month in New York. Walter, who also owns stakes in the Dodgers, Sparks, Chelsea and other sports organizations, is selling only his Lakers stake. He said owning the franchise was one of the great honors of his life and expressed confidence in the team’s future under its new ownership.
Kushner, 41, founded venture capital firm Thrive Capital and co-founded Oscar Health, while Iger, 75, recently completed his second stint as Disney CEO and is also a controlling owner of NWSL club Angel City FC. The deal comes as Walter faces federal and SEC investigations into alleged tax-related issues involving other companies he controls, though those investigations are separate from the Lakers transaction. If approved, the $12.5 billion price would make the Lakers the most valuable sports franchise sale in history.
