The Los Angeles Lakers are set to be purchased by businessmen Josh Kushner and Bob Iger, marking the second ownership change in a year. The sale is reported to be a record-breaking $12.5 billion US, although specific details have not been disclosed by either party. This acquisition of the NBA’s most valuable franchise follows last year’s $10 billion valuation when Mark Walter acquired a controlling stake from the long-time owners, the Buss family.
In a joint statement, Iger and Kushner expressed their reverence for the Lakers’ legacy and their commitment to continuing the team’s success under their ownership. The duo, who had been exploring an NBA expansion team for Las Vegas, now have the opportunity to lead the iconic Lakers franchise.
The transaction is subject to approval by the NBA’s board of governors, with the next meeting scheduled for September in New York. The $12.5 billion price tag sets a new benchmark in the escalating values of NBA teams, surpassing recent high-profile sales in the league.
Magic Johnson, a former Lakers player and partner in Walter’s ownership of the Los Angeles Dodgers, endorsed the deal, emphasizing the passion and dedication of the new owners. The Lakers, a 17-time NBA championship-winning team, have seen consistent success on the court and maintain a strong global fan base.
The acquisition by Kushner and Iger signals a new chapter for the Lakers, with a focus on maintaining the team’s competitive edge and delivering championships to Los Angeles. The deal marks a significant shift in ownership dynamics for the storied franchise, with potential implications for the team’s future operations and leadership structure.
