Selling slices of a $12.5 billion team
Josh Kushner and Bob Iger are building the Lakers’ new ownership group, and the price of admission is steep. According to Front Office Sports, the pair have been offering minority stakes to investors starting at $250 million apiece, with stakes selling for between $250 million and $300 million each. Four sources told the outlet that figure is only the starting point, and that some investors will commit significantly more.
Kushner and Iger agreed over the summer to buy the franchise from Mark Walter at a record $12.5 billion valuation.
no renewal
Free for 2 weeks.
Demand, structure and timing
FOS reports that the idea Kushner is struggling to raise the money is not true. One source called the interest massive, and two sources said demand to get in has been heavy, though it is unclear who has expressed interest. The transaction could close within the next few months, one source said.
Once it does, Kushner will be the majority owner and Iger a minority owner who runs the team’s day-to-day operations, per the same source.
Walter’s other basketball asset is also on the market. It was recently reported that he is looking to sell the WNBA’s Sparks. A source confirmed to FOS that Kushner and Iger are not currently interested in buying them, which matches Bloomberg’s earlier report that they are not among the potential buyers.
Discover the rest of our NBA news on MathODDS!
in your pocket.
Real-time notifications & alerts
Leave a Reply