Los Angeles Lakers sold for $12.5 billion to Bob Iger and Joshua Kushner

The Los Angeles Lakers have been sold for a record $12.5 billion to former Disney CEO Bob Iger and venture capitalist Joshua Kushner. The acquisition marks a major transition for the NBA franchise, which was previously controlled by Mark Walter.

Mark Walter, the majority owner of the Los Angeles Dodgers, is expected to net a significant profit from the sale. This liquidity may assist Walter in addressing debts related to two Delaware life insurance companies currently under federal scrutiny. While Walter’s holding company, TWG Global, has stated they are cooperating with authorities, no charges have been filed.

Analysts suggest the acquisition offers Kushner a substantial tax shield, potentially allowing him to offset significant income from holdings such as SpaceX, OpenAI, and Stripe through non-passive deductions.

During the transition, the Lakers are maintaining administrative integration with the Dodgers, a process referred to as ‘dodgerization,’ which involves sharing executive talent and management approaches between the two organizations.