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Two prominent American businessmen are set to acquire the Los Angeles Lakers in a landmark transaction valued at more than $12 billion, according to reporting by ESPN. The deal represents a significant increase from the approximately $10 billion valuation when Mark Walter purchased controlling ownership of the franchise last year.
Josh Kushner, founder of venture capital firm Thrive Capital, and Bob Iger, the former Disney chief executive, were initially involved in discussions regarding NBA expansion in Las Vegas. However, the pair made a strategic shift to pursue ownership of the storied Lakers franchise instead. In a joint statement, the two expressed their enthusiasm for stewardship of the iconic team while pledging commitment to honoring the Buss family legacy and competing at the highest level.
Walter, who chairs diversified holding company TWG Global, acknowledged the sale while emphasizing his gratitude for the experience. He noted that the Lakers hold special significance within Los Angeles and expressed optimism about the franchise’s future direction under new leadership. Walter maintains interests in various other sports properties, including baseball’s Dodgers and investments in Chelsea Football Club.
Kushner, age 41, also serves as vice chairman of Oscar Health. Iger, 75, recently concluded his tenure at Disney following his second stint as the company’s chief executive and is a controlling owner of women’s soccer team Angel City FC.
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Originally reported by Sports.yahoo →
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