The Los Angeles Lakers are set to change ownership hands once again, this time to investors Josh Kushner and Bob Iger for a groundbreaking sum. The agreed-upon sale price amounts to $12.5 billion, as per a knowledgeable source who spoke to The Associated Press under anonymity on Wednesday. This latest development, involving one of North America’s premier sports franchises, marks a significant milestone in the team’s history.
ESPN initially disclosed that Kushner and Iger are set to acquire the NBA’s most valuable team. The Lakers, previously valued at $10 billion last year when Mark Walter acquired a controlling interest from the Buss family, set a record for professional sports teams’ valuation.
In a joint statement, Iger and Kushner expressed their profound respect for the Lakers’ legacy and their commitment to upholding and expanding on the team’s success. The duo, both avid NBA enthusiasts, had been actively pursuing an NBA expansion team for Las Vegas before seizing the opportunity to acquire the Lakers.
While the sale is pending approval from the NBA’s board of governors, the staggering $12.5 billion price tag not only sets a new record in U.S. professional sports but also elevates NBA franchise valuations to unprecedented levels. The decision by Walter to sell the team after a brief tenure has stirred mixed reactions among fans, who had welcomed his ownership with enthusiasm.
The Lakers, boasting a rich history with 17 NBA championships, have maintained a strong presence in the league, making the playoffs consistently over recent years. With a roster anchored by NBA scoring leader Luka Doncic, the team remains poised for success under the new ownership, signaling a new era for the iconic franchise.
Kushner, known for his ventures in sports ownership, and Iger, a prominent figure in the entertainment industry, bring a wealth of experience and passion to their ownership of the Lakers. Their acquisition of the team not only reflects their dedication to sports but also signifies a new chapter in the Lakers’ storied legacy.