Josh Kushner has emerged as the new owner of the Los Angeles Lakers, after reportedly reaching a deal with Mark Walter over the weekend.
The sale is a significant coup for Walter, who saw the Lakers' valuation increase from $10 billion to $12.5 billion in just 14 months.
According to a source with knowledge of the deal, Josh Kushner first reached out to Mark Walter last Friday about the franchise sale. The deal quickly came together over the weekend.
The Lakers' valuation increase is a testament to the team's growing popularity and financial success. The team has been a major force in the NBA, with a strong following in Los Angeles and beyond.
The sale marks a significant change for the Lakers, who have been owned by various individuals and groups over the years. The team has a rich history, having won multiple championships and being one of the most successful franchises in the NBA.
The new ownership group will likely look to build on the team's success, with a focus on improving the team's performance on the court. The Lakers have been a major force in the NBA, with a strong following in Los Angeles and beyond.
Josh Kushner's ownership of the Lakers is a significant development, particularly given his background as a businessman and investor. He has a strong track record of investing in successful companies and franchises.
The sale is also a significant development for Mark Walter, who saw the Lakers' valuation increase significantly during his ownership. Walter was not necessarily looking to sell, but the offer from Kushner and Bob Iger was too good to pass up.
The new ownership group will likely face significant challenges as they look to build on the team's success. The NBA is a highly competitive league, with many talented teams and players.
The sale of the Lakers is a significant development for the NBA, and will likely have a major impact on the team's future. The new ownership group will likely look to make significant changes to the team's operations and strategy.
The Lakers' new ownership group will face a significant challenge in the coming months as they look to build on the team's success. The team has a strong following in Los Angeles and beyond, and will likely be a major force in the NBA for years to come.
Source: Yahoo Sports