The Los Angeles Lakers have been sold to businessmen Josh Kushner and Bob Iger for a staggering $12.5 billion US, marking the second change in ownership within a year, breaking records in the process. This acquisition of the NBA’s most valuable franchise was first reported by ESPN, with the Lakers previously valued at $10 billion before Mark Walter bought a controlling stake from the Buss family last year.
In a joint statement, Iger and Kushner expressed their deep honor at becoming stewards of the iconic Los Angeles Lakers, emphasizing their commitment to building on the team’s foundation and striving for excellence on and off the court. The sale, subject to NBA board approval, represents a significant milestone in the skyrocketing values of NBA franchises, eclipsing previous records in U.S. professional sports.
The sale agreement allows Kushner and Iger to forego pursuing an NBA expansion team for Las Vegas, as they now have ownership of the esteemed Lakers franchise. This move has garnered praise from Lakers legend Magic Johnson, who lauded the new owners’ dedication to bringing championships back to Los Angeles.
The transaction, which awaits NBA board approval, reflects the ongoing trend of increasing franchise valuations within the sports industry. Mark Walter’s swift decision to sell the Lakers after a brief tenure as owner has raised speculation within the fan base, especially amidst reports of regulatory scrutiny on his business dealings.
The Lakers, a prestigious franchise with a rich history of success, are currently led by NBA scoring champion Luka Doncic, who has expressed excitement about the team’s future under the new ownership. The involvement of Josh Kushner, known for his sports investments, and Bob Iger, a prominent figure in the entertainment industry, signals a new chapter for the Lakers.
The sale of the Lakers, a team synonymous with success and global recognition, comes at a time of transition following the departure of LeBron James. With a renewed focus on innovation and growth, the Lakers aim to solidify their position as a top-tier organization in the NBA under the leadership of Kushner and Iger.
The acquisition of the Lakers adds to the diverse sports portfolio of the new owners, who have demonstrated a commitment to excellence and sustainability in their previous ventures. As the NBA awaits the final approval of this historic sale, the Lakers community anticipates a new era of success and growth under the stewardship of Kushner and Iger.