Bob Iger and Joshua Kushner Agree to Purchase Lakers for $12.5 Billion
Details of the Lakers Sale
Disney’s former chief executive, Bob Iger, along with venture capitalist Joshua Kushner, has agreed to buy the Los Angeles Lakers for an unprecedented $12.5 billion. This change in ownership comes less than two years after Mark Walter acquired the team from the Buss family for $10 billion.
Mark Walter’s Recent Transactions
Mark Walter, who originally bought the Lakers last year and is also the owner of the Dodgers, remains under a federal investigation regarding his financial matters. The investigation focuses on related-party transactions which involve business dealings between entities that have personal or business ties. These transactions often require additional scrutiny to avoid conflicts of interest.
Ownership History
The Lakers were under the Buss family’s control since 1979, making them one of the most famous sports franchises. Following Dr. Jerry Buss’s passing in 2013, his daughter Jeanie Buss took over as the team’s governor. Mark Walter’s acquisition increased the franchise’s valuation significantly, reaching $10 billion. This new transaction with Kushner and Iger reflects a $2.5 billion increase from Walter’s purchase price.
Statements from New Buyers
Joshua Kushner and Bob Iger expressed their gratitude for the opportunity to become stewards of such a renowned sports team. They regard this acquisition as a significant moment in their lives as lifelong NBA fans.
Future Plans for the Dodgers
Despite selling the Lakers, insiders confirm that Mark Walter has no intentions of selling the Dodgers. He will maintain ownership of the baseball club while stepping away from his involvement with the Lakers.
Iger’s Other Ventures
Bob Iger and his wife, Willow Bay, are involved in another significant acquisition. They are set to become controlling owners of Angel City Football Club, a women’s soccer team. The couple will invest $50 million into the club to boost its budget and reduce financial losses, pending approval from the National Women’s Soccer League.