Bob Iger and Joshua Kushner are reportedly buying the Los Angeles Lakers from Mark Walter at a valuation of more than $12.5 billion, a record for a North American sports franchise.
Key facts
- Bob Iger, former Disney CEO, and venture capital founder Joshua Kushner are buying the Los Angeles Lakers.
- The deal values the team at more than $12.5 billion, according to The Guardian citing ESPN.
- The pair are acquiring Mark Walter's stake in the NBA franchise.
- Al Jazeera reports the price is a record-breaking valuation for a North American sports franchise.
- Walter bought a majority stake last year in a deal that valued the club at $10 billion.
Former Disney chief executive Bob Iger and venture capital founder Joshua Kushner are purchasing the Los Angeles Lakers, according to reports published on Wednesday. The deal values the NBA franchise at more than $12.5 billion.
The Guardian reported the transaction, citing ESPN and sources with knowledge of the deal, describing it as a record-breaking agreement. CNBC reported that Iger and Kushner are acquiring Mark Walter’s stake in the team.
Al Jazeera described the sale as a record-breaking valuation for a North American sports franchise.
The sale comes after billionaire Mark Walter purchased a majority stake of the Lakers last year from the Buss family, in a deal that valued the club at $10 billion. According to The Guardian, that earlier deal was only approved by the NBA’s board of governors in October.
The Guardian reported that Iger and Kushner aim to ‘compete at the highest level.’ The reported $12.5 billion valuation represents a significant increase over the $10 billion figure attached to the franchise less than a year earlier.
The reports cited sources with knowledge of the deal rather than official confirmation from the parties involved.
Why it matters
A reported valuation of more than $12.5 billion sets a new benchmark for the price of a North American sports franchise, underscoring the soaring value of major teams. The involvement of high-profile figures like Bob Iger and Joshua Kushner signals continued interest from business and media leaders in professional sports ownership.
Frequently asked questions
How much are Bob Iger and Joshua Kushner paying for the Lakers?
According to The Guardian, citing ESPN, the deal values the Los Angeles Lakers at more than $12.5 billion.
Who is selling the Lakers?
CNBC reports that Iger and Kushner are acquiring Mark Walter's stake in the team. Walter had bought a majority stake last year from the Buss family.
Is this a record deal?
Al Jazeera and The Guardian describe it as a record-breaking valuation for a North American sports franchise.