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[BUSINESS] · United States · 36 sources

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Los Angeles Lakers to be sold for record $12 billion FAST-MOVING

An investment group led by Josh Kushner and former Disney CEO Bob Iger has reached an agreement to purchase the Los Angeles Lakers for more than $12 billion. If approved by the NBA, the deal would set a record as the highest price ever paid for a North American sports franchise.

The sale comes less than a year after Mark Walter acquired a controlling interest in the team from the Buss family. Walter, whose firm Guggenheim Investments is reportedly under investigation by the SEC and the U.S. Attorney’s Office in Manhattan regarding $16 billion in private-credit loans, will exit the franchise following the transaction.

Kushner, the founder of Thrive Capital, and Iger have expressed their commitment to the team and the city of Los Angeles. The deal marks a significant shift in ownership for one of the world’s most iconic sports brands.

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Bob Iger · Josh Kushner · Los Angeles Lakers · Mark Walter · NBA

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