Lakers Sold for $12.5 Billion: Mark Walter sells team to Bob Iger, Josh Kushner
The Los Angeles Lakers have been sold by Mark Walter for a record-breaking $12 billion, according to ESPN.Bob Iger and Josh Kushner are set to become the new owners as the Lakers enter a new era following the end of the LeBron James era in Los Angeles.
LiveNOW’s Andy Mac spoke about the record sale with Arash Markazi, founder & CEO of The Sporting Tribune.
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Iger is the former CEO of Disney, holding that title two separate times. He stepped down in March. Kushner, the younger brother of Ivanka Trump's husband Jared, founded Thrive Capital and Oscar Health.
The two were reportedly interested in being involved with the NBA’s upcoming expansion team in Las Vegas before turning their sights to the City of Angels.
This comes a year after Walter, also owner of the LA Dodgers, purchased a majority stake of the Lakers from the Buss family for $10 billion.
Dr. Jerry Buss purchased the team in 1979 and following his passing, the torch was passed down to his children.
Reports stated Jeanie Buss would be the governor of the team for five more years even after the sale to Walter.
Walter remains the CEO of Guggenheim Partners and the majority owner of the Los Angeles Dodgers. He is also under federal investigation for alleged tax fraud.
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