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Iger, Kushner to buy Los Angeles Lakers in record $12.5bn deal

From The Punch · () English

Summarized and contextualized by DistantNews.

At a glance

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  • The Los Angeles Lakers are reportedly being sold to former Disney CEO Bob Iger and investor Joshua Kushner for a record $12.5 billion.
  • This deal would surpass the previous record set by Mark Walter's purchase of a controlling interest last year for $10 billion.
  • The sale requires approval from the NBA's board of governors.

The Los Angeles Lakers, one of the NBA's most storied franchises, are reportedly on the verge of a record-breaking sale. Former Disney CEO Bob Iger and investor Joshua Kushner are set to acquire the team in a deal valued at $12.5 billion, according to ESPN.

This proposed sale shatters the previous record set just last year when billionaire Mark Walter agreed to buy a controlling stake for $10 billion. That deal marked the end of the Buss family's 46-year ownership of the iconic team.

The Lakers boast an impressive legacy, with 17 NBA championships, second only to the Boston Celtics. The team has been a home for legendary players such as Kareem Abdul-Jabbar, Shaquille O’Neal, and the late Kobe Bryant. LeBron James, the NBA's all-time leading scorer, recently departed the Lakers after an eight-year tenure that included one championship.

The transaction is not yet final, as it awaits approval from the NBA's board of governors, a process that could take several weeks.

The Los Angeles Lakers, one of the most successful teams in NBA history, are being sold to former Disney CEO Bob Iger and investor Joshua Kushner in a deal valuing the team at $12.5 billion, ESPN reported Wednesday.

— ESPNReporting on the record-breaking sale of the Los Angeles Lakers.
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Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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