Los Angeles Lakers sold for $12.5 billion to Iger and Kushner-led group

The Los Angeles Lakers have undergone a major ownership transition following the sale of Mark Walter’s stake to an investment group led by Disney CEO Bob Iger and venture capitalist Josh Kushner. The transaction was valued at $12.5 billion.

NBA Commissioner Adam Silver addressed the sale during a press conference, noting that the league found ‘no red flags’ during the vetting process of Mark Walter, despite Walter being under federal investigation. Silver emphasized that the league’s inquiries involved governmental agencies and regulated insurance sectors.

In a related development, former Lakers player Metta World Peace revealed on LinkedIn that he attempted to purchase a 1% stake in the franchise for $100 million shortly after the ownership change was announced. World Peace stated his intention was to establish a foothold within the ownership group to potentially pursue a larger stake, such as one-third of the club, in the future.