The Los Angeles Lakers, one of the NBA's most storied franchises, are on the verge of a landmark sale valued at $12.5 billion, according to ESPN. The prospective buyers are former Disney CEO Bob Iger and investor Joshua Kushner.
This deal would establish a new benchmark for the valuation of a North American sports team, surpassing the previous record set just last year when billionaire Mark Walter acquired a controlling interest in the Lakers for $10 billion.
New Ownership and Legacy
Kushner, brother to Jared Kushner, former senior adviser to US President Donald Trump, and Iger expressed their enthusiasm about the acquisition, stating their commitment to uphold the Lakers' legacy and compete at the highest level.
"As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world," they said in a joint statement.
Historic Franchise Highlights
- The Lakers have secured 17 NBA championships, second only to the Boston Celtics.
- Legendary players such as Kareem Abdul-Jabbar, Shaquille O'Neal, Kobe Bryant, and LeBron James have donned the Lakers jersey.
- LeBron James recently departed for the Philadelphia 76ers after eight seasons with the team.
- The current roster is led by Slovenian star Luka Doncic.
Previous Ownership and NBA Approval
Mark Walter's acquisition last year ended the Buss family's 46-year stewardship of the franchise. Despite stepping down as owner, Jeanie Buss has continued to serve as the Lakers' governor.
The sale still requires approval from the NBA Board of Governors before it can be finalized.
Mark Walter’s Statement
Walter reflected on his ownership as a profound honor and expressed confidence in the franchise's future under new leadership. His broader sports holdings include the Los Angeles Dodgers, a stake in Chelsea FC, the Billie Jean King Cup, and the Cadillac Formula One team.
Walter is currently facing a federal investigation related to his insurance businesses.
