NBA's Los Angeles Lakers to be sold for reported US$12.5bil
LOS ANGELES: The Los Angeles Lakers, one of the most successful teams in NBA history, are being sold to former Disney CEO Bob Iger and investor Joshua Kushner in a deal valued at a reported US$12.5 billion.
The Los Angeles Lakers, a storied NBA franchise with 17 championships to its name, are set to undergo a historic sale. Bob Iger, a former CEO of Disney, and Joshua Kushner, the brother of President Donald Trump's daughter, are reportedly purchasing the team for a staggering US$12.5 billion. This valuation eclipses the previous record, set by billionaire Mark Walter's $10 billion acquisition of the Lakers in 2022.
Kushner, who is also an investor in Memphis Grizzlies and a former frontrunner for FIFA's World Cup private investment, is set to take the reins as co-owners alongside Iger. The Buss family, who had governed the Lakers for 46 years, will cede control in this landmark transaction. The new ownership team expressed their gratitude towards the Buss family and their commitment to the team's legacy, with Kushner stating, "We are deeply honored for the opportunity to become stewards of the Los Angeles Lakers."
The sale still awaits approval from the NBA's board of governors, and the Lakers' future stars, including Luka Doncic, have publicly welcomed the new owners, expressing their eagerness to contribute to the team's continued success.
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