The Los Angeles Lakers will be sold to an ownership group led by businessman Josh Kushner and Disney executive Bob Iger in a deal reported to be worth $12.5 billion.
Kushner and Iger confirmed on Wednesday they have agreed terms, stating it was an honour to be taking over one of the iconic franchises in the NBA.
The sale follows hot on the heels of businessman Mark Walter buying the Lakers just 12 months ago for a sum thought to be around $10 billion. Walter revealed it has been one of the great honours of his life to own the franchise and stated he believes the future is a good one.
The Lakers are one of the most successful franchises in professional sports. They boast 17 NBA championships to their name, the most recent of which came in 2020.
The sale of the franchise signals a new era for the Lakers post-LeBron James’ move to Philadelphia. Slovenian Luka Doncic is expected to be the man to lead this new era for the franchise after scoring 33.5 points per game last season.
Business tycoon Josh Kushner, founder of Thrive Capital and a minority owner of NBA franchise the Miami Heat, will spearhead the consortium with Disney executive Bob Iger, who has previously held the role of Disney CEO.
The husband and wife duo of Iger and his wife Willow Bay also own a majority share in NWSL side Angel City FC.
The deal is subject to the approval of the NBA
