A blockbuster $12.5B deal as Josh Kushner and Bob Iger buy the Los Angeles Lakers, AP source says
Summary
Businessmen Josh Kushner and Bob Iger are buying the Los Angeles Lakers basketball team for $12.5 billion, a new record price for a U.S. pro sports team. The sale must be approved by the NBA’s board of governors before it is final.Key Facts
- The Lakers are being sold for $12.5 billion, which is the highest price ever paid for a U.S. professional sports team.
- This is the second sale of the Lakers in one year; Mark Walter bought a controlling stake last year.
- Kushner and Iger had been trying to get a new NBA team in Las Vegas but chose to buy the Lakers instead.
- The NBA board of governors must approve the sale, with the next meeting in New York next month.
- The Lakers were valued at $10 billion last year when Walter bought a controlling stake.
- NBA team values have risen rapidly, with the Charlotte Hornets sold for $3 billion three years ago and the Boston Celtics for over $6 billion last year.
- The Lakers have won 17 NBA championships, second only to the Boston Celtics with 18 titles.
- Recently, star player LeBron James left the Lakers and signed with the Philadelphia 76ers.
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