sports
Josh Kushner and Bob Iger reportedly buying Los Angeles Lakers for $12.5bn
Iger and Kushner aim to ‘compete at the highest level’
TL;DR
- Josh Kushner and Bob Iger are in the process of buying the Los Angeles Lakers for more than $12.5bn.
- The reported sale price sets a new record for a US sports franchise.
- Mark Walter, who purchased a majority stake last year, will continue as part of the ownership group.
- The deal requires approval from the NBA's board of governors.
- Kushner and Iger have expressed their respect for the Buss family and their commitment to the Lakers' future success.
- The Lakers are one of the most successful teams in NBA history with 17 titles.
- The reported valuation of the Lakers continues a trend of rapidly increasing NBA franchise values.
- Mark Walter is currently under federal investigation for tax fraud allegations, which he denies.