Josh Kushner, Bob Iger, buying Los Angeles Lakers for record $12.5bn
Summary
Josh Kushner and Bob Iger plan to buy the Los Angeles Lakers basketball team in a deal valued at $12.5 billion, which would be a record price for an NBA team. The purchase is awaiting approval from the NBA board of governors and further financial checks.Key Facts
- The deal to buy the Lakers is worth $12.5 billion, higher than the previous $10 billion valuation.
- Billionaire Mark Walter owns the majority stake in the Lakers and also owns the LA Dodgers baseball team.
- Walter’s financial activities are currently under federal investigation.
- Bob Iger is the former CEO of Disney and has strong NBA connections through ESPN sports broadcasts.
- Josh Kushner is a venture capitalist and founder of Thrive Capital, with an estimated personal wealth of $5 billion.
- Both buyers have expressed a commitment to continuing the Lakers’ legacy and competing at a high level.
- The deal ends previous plans by Kushner and Iger to create a new NBA team in Las Vegas.
- The Lakers are changing after LeBron James left the team recently to join the Philadelphia 76ers.
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