The Los Angeles Lakers are being sold to American businessmen Josh Kushner and Bob Iger for over $12 billion, a record-breaking price.
Kushner and Iger were involved in the expansion process in Las Vegas but have now made an aggressive offer to buy the Lakers from Mark Walter, who acquired a controlling interest in the team last year for approximately $10 billion. The sale is a significant increase in valuation compared to when Walter purchased the team.
In a statement, Kushner and Iger expressed their honor at becoming stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. They stated that they have immense respect for the leadership and vision of Jerry and Jeanie Buss and plan to build on that foundation.
Mark Walter, who has been the majority owner since last October, said that owning the Los Angeles Lakers has been an honor but also acknowledged that he will miss the community, fans, and city that treat the team as family. He expressed confidence that the best is still ahead for the franchise.
Walter's company, TWG Global, has interests in multiple professional sports organizations, including the Los Angeles Dodgers, Sparks, Chelsea FC, and the Professional Women's Hockey League, among others.
NTC Report coverage is based on reporting from the original publisher.
View original reporting →
