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 valuing the team at $12.5 billion, ESPN reported Wednesday.
The Los Angeles Lakers are being sold to Bob Iger and Joshua Kushner. (Getty Images via AFP)
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The sale, which would mark a record-breaking price, comes only about a year after billionaire Mark Walter agreed to buy a controlling interest in the team in a then-record $10 billion deal.
Kushner is the brother of Jared Kushner, US President Donald Trump's son-in-law.
Deep Dive
What is the significance of Bob Iger and Josh Kushner acquiring the Los Angeles Lakers?
The acquisition of the Los Angeles Lakers by Bob Iger and Josh Kushner signifies a record-breaking sale for an NBA team, valued at $12.5 billion, reflecting the growing commercial value of sports franchises.
Why is the sale of the Lakers to Kushner and Iger considered record-breaking?
The sale is considered record-breaking because it surpasses the previous record of $10 billion set only a year prior when Mark Walter acquired a controlling interest in the team.
How does Josh Kushner's background in technology investments influence his approach to owning the Lakers?
Josh Kushner's extensive experience in technology investments through Thrive Capital may influence his approach to owning the Lakers by potentially applying innovative business strategies and fostering growth in sports and entertainment ventures.
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Walter's purchase, reported in June last year, ended the Buss family's 46-year reign over the NBA giants.
The Lakers have won 17 NBA championships, second only to the Boston Celtics.
The team has been home to some of the league's biggest superstars including Kareem Abdul-Jabbar, Shaquille O'Neal and the late Kobe Bryant.
LeBron James, the NBA all-time scoring leader, just left the squad for the Philadelphia 76ers after spending eight years and winning one title with the Lakers.
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The sale still requires approval from the NBA's board of governors, in a process that can take weeks, ESPN reported.
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The sale still requires approval from the NBA's board of governors, in a process that can take weeks, ESPN reported.
Stay updated with the latest sports news, including latest headlines and updates from the Olympics 2024, where Indian athletes will compete for glory in Paris. Catch all the action from tennis Grand Slam tournaments, follow your favourite football teams and players with the latest match results, and get the latest on international hockey tournaments and series.
Stay updated with the latest sports news, including latest headlines and updates from the Olympics 2024, where Indian athletes will compete for glory in Paris. Catch all the action from tennis Grand Slam tournaments, follow your favourite football teams and players with the latest match results, and get the latest on international hockey tournaments and series.
Home/Sports/Others/Joshua Kushner, Bob Iger buy Los Angeles Lakers for USD 12.5 billion
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