Trump-linked Kushner and ex-Disney boss to buy £9bn LA Lakers from Chelsea co-owner
Josh Kushner, the Donald Trump-linked figure at the centre of the Fifa sell-off row, is to buy NBA’s LA Lakers from Chelsea co-owner Mark Walter in a £9bn deal. Walter purchased the Lakers for £7.4bn in October last year but is set to see a bumper return on his investment when Kushner – brother to [...]
Donald Trump associate Josh Kushner and former Disney chief Bob Iger are set to purchase the NBA's LA Lakers from co-owner Mark Walter for £9 billion, according to ESPN reports. Walter initially acquired a 27% stake in the Lakers in 2021, but increased his ownership to 85% at a $10 billion valuation last year. The Buss family, which held 15% of the team, is uncertain if their stake has also been sold.
The sale requires approval from the NBA Board of Governors. This transaction would make the Lakers more valuable than 29 NFL franchises and place it above the Golden State Warriors' $11 billion valuation. Walter expressed gratitude for the opportunity to own the Lakers and emphasized the team's connection to Los Angeles. The sale comes a month after a Fifa World Cup stake sale plan proposed by Fifa president Gianni Infantino was cancelled due to widespread opposition. The US is currently investigating Walter's insurance companies regarding the disclosure of assets.
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