The Los Angeles basketball team has been sold to a group reportedly led by Josh Kushner and Bob Iger.
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The Los Angeles Lakers have been sold to a group led by Josh Kushner and Bob Iger for more than $12 billion, according to ESPN.
The sale is shocking not just for its price, a record sale price for any sports franchise, but because just last year a controlling interest in the legendary NBA team had been sold from the Buss family to Los Angeles Dodgers owner Mark Walter, the chief executive of TWG Global, for $10 billion.
Kushner, the brother of President Donald Trump’s son-in-law Jared Kushner, and Iger, the former Disney chairman, were considered the front-runners for an NBA expansion team in Las Vegas. Walter’s other companies are under federal investigation for alleged fraud, Bloomberg News and other outlets have reported.
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“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” Kushner and Iger said in a statement, according to ESPN. “Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
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