Ownership of the Lakers keeps changing hands at record valuations.
Mark Walter is selling the franchise to businessman Josh Kushner and ex-Disney executive Bob Iger at a historic valuation of $12.5 billion, ESPN first reported.
That’s the highest figure for an American sports team.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” Kushner and Iger said in a statement, per ESPN.
“Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
Walter, the primary owner of the Dodgers, purchased controlling interest in the Lakers from the Buss family last year for $10 billion, which set the record at the time.
The NBA Board of Governors officially approved the transaction last October, with Je
“Owning the Los Angeles Lakers has been one of the great honors of my life – an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said in a statement to ESPN.
“I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
Kushner and Iger had been part of the group hoping to land an expansion team in Las Vegas, per EsPN, but opted to instead purchase the team for the largest figure in American sports history.
More to come on this developing story…
