The Los Angeles Lakers are being sold to American businessmen Josh Kushner and Bob Iger for a record-breaking $12.5 billion, according to multiple sources.
Josh Kushner and Bob Iger's surprise bid to buy the Lakers has sent shockwaves through the sports world. The duo's statement on the sale reveals their lifelong passion for the NBA and their commitment to building on the team's legacy. "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 statement. "We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles."
The Lakers' current owner, Mark Walter, has been in charge since last October. Walter, the CEO and chairman of diversified holding company TWG Global, has been the Lakers' majority owner since then. "Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family," Walter said in a statement.
Walter's sale of the Lakers marks a significant change for the team. As the CEO and chairman of TWG Global, Walter has interests in multiple professional sports organizations, including the Dodgers, Sparks, Premier League club Chelsea, and the Professional Women's Hockey League. He also owns several auto racing teams through TWG Motorsports, including Cadillac Formula 1.
Josh Kushner, 41, founded and runs venture capital firm Thrive Capital and is the co-founder and vice chairman of Oscar Health. He is also the brother of President Donald Trump's son-in-law Jared Kushner. Kushner holds a minority stake in the Miami Heat and will have to sell his stake in the Heat to clear the way for the Lakers purchase.
Bob Iger, 75, was succeeded this year as Disney's CEO by Josh D'Amaro, ending his second term in the role. In 2024, along with Willow Bay, he became the controlling owner of NWSL team Angel City FC. Iger's experience in the entertainment industry will likely bring a new perspective to the Lakers.
The sale of the Lakers to Kushner and Iger has raised questions about the team's future. With a new ownership group in place, fans will be eager to see how the team will perform on the court. The Lakers have a rich history in Los Angeles, and the city will be watching closely to see how the team will evolve under new leadership.
The sale is expected to be finalized soon, with the new ownership group taking control of the team. As the Lakers look to the future, one thing is clear: the team will be in good hands with Kushner and Iger at the helm.
Source: Yahoo Sports