A price that shatters every record
The Los Angeles Lakers are changing hands for the second time in just over a year. Multiple sources told ESPN’s Ramona Shelburne that businessman Josh Kushner and former Disney CEO Bob Iger are buying the franchise from Mark Walter for $12.5 billion. The figure obliterates the previous American sports record, set by Walter himself last year when he bought a controlling stake from the Buss family at a roughly $10 billion valuation.
Kushner and Iger had been part of the NBA’s Las Vegas expansion process before pivoting to make an aggressive run at the Lakers instead.
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Carefully worded farewells
In a statement to ESPN, Kushner and Iger called it a deep honor to become “stewards” of one of sports’ most iconic franchises, pledging to build on the foundation laid by Jerry and Jeanie Buss. Walter, for his part, described owning the Lakers as “one of the great honors” of his life, thanking the Buss family, the players and the staff for welcoming him into the franchise’s latest chapter.
Walter is only selling the Lakers in this deal. He retains full control of the Dodgers, the baseball franchise he has owned since 2012 and led to multiple World Series titles.
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