Bob Iger and Josh Kushner Purchase Lakers
Bob Iger and Josh Kushner have purchased the Los Angeles Lakers for over $12 billion following Mark Walter's short time as majority owner.
Bob Iger and Josh Kushner attend a public event together in New York City.
Record Sale Value
Mark Walter's tenure as the majority owner of the Los Angeles Lakers ended after less than a year. The franchise was sold to Iger and Kushner for an unprecedented valuation exceeding $12 billion.
"As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers," Kushner and Iger said in a joint statement. They expressed immense respect for the leadership and vision of Jerry and Jeanie Buss.
Leadership And Background
Bob Iger is the former chief executive officer of Disney who stepped down from his role in March. Joshua Kushner is the founder of Thrive Capital and Oscar Health.
Prior to this purchase, both businessmen were heavily involved in bids for an NBA expansion team in Las Vegas. Mark Walter continues to serve as the chief executive officer of Guggenheim Partners and owns the Los Angeles Dodgers.
Future Of The Franchise
Jeanie Buss has served as the team governor since her father Jerry Buss passed away in 2013. Previous reports indicated she would remain the team governor for five years following the initial sale to Walter.
"Owning the Los Angeles Lakers has been one of the great honors of my life," Walter stated regarding his departure. The franchise secured 11 championships under the Buss family ownership.
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