More changes are happening in the NBA! The Los Angeles Lakers are switching owners, once again.
Just 14 months after Mark Walter snagged the team for a record-breaking $10 billion, he’s already passing the torch. According to a source, Walter is selling the legendary franchise to former Disney CEO Bob Iger and Joshua Kushner in a deal that values the team at a staggering $12.5 billion. For those keeping track, Kushner already holds a minority stake in the Miami Heat and is the younger brother of Jared Kushner.
This is a total bombshell for one of the NBA’s most iconic teams, which was a family affair under the Buss family for over 40 years before Walter’s brief stint as owner.
The new duo is already speaking out about their massive acquisition. “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,” Iger and Kushner said in a statement. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss. 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.”
ESPN was the first to break the news on Wednesday morning, and we are officially keeping our eyes on this major transition!
