Iger and Kushner agree record $12.5bn Lakers takeover
Bob Iger and Josh Kushner have agreed to acquire the Los Angeles Lakers in a $12.5bn deal, setting a new record for the price paid for a sports franchise, according to a report by the Financial Times.
Bob Iger and Josh Kushner have reached an agreement to purchase the Los Angeles Lakers for a record-breaking $12.5 billion, as reported by the Financial Times. The former Walt Disney CEO and Kushner are acquiring the NBA team from Mark Walter, co-founder of Guggenheim Partners, who had previously purchased the team from the Buss family for approximately $10 billion last year.
The transaction is pending NBA approval. This deal underscores the escalating values of prominent sports franchises, fueled by increasing demand for high-quality live content, lucrative media rights, and the commercial potential of internationally renowned teams. Private equity firms have been increasingly interested in this sector, with Apollo contributing $2.6 billion in financing to the New York Yankees' holding company.
Kushner's investment firm, Thrive Eternal, which launched in April to target assets it deems difficult to replicate through technology, may also be involved in the acquisition, having already agreed to acquire a minority stake in Major League Baseball's San Francisco Giants.
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