Former Disney Chief Executive Officer Bob Iger and investor Joshua Kushner have reached an agreement to purchase the Los Angeles Lakers for a record $12.5 billion, according to reports from multiple news outlets including ESPN. The historic transaction marks an unprecedented financial benchmark for a professional sports franchise sale. The prospective acquisition brings together two high-profile figures from the entertainment and finance sectors, with Kushner—the brother of Jared Kushner—and Iger joining forces to take ownership of one of the most recognizable brands in global sports.
The sale comes just one year after businessman Mark Walter acquired the franchise. Despite his decision to unload the Lakers after a brief period of ownership, reports indicate that Walter has no plans to sell the Los Angeles Dodgers. The rapid turnover of the basketball team underlines the volatile and rapidly rising valuations associated with top-tier professional athletic franchises.
The news of the multi-billion-dollar deal quickly impacted the broader financial landscape, sending ripples through related sports and media equities. Following the announcement of the record-setting purchase price, shares of Madison Square Garden Sports experienced a notable increase. The transaction stands as a major landmark in sports business, drawing widespread attention from media outlets and financial markets alike.
Related Coverage
- Sources: Mark Walter has no plans sell Dodgers after unloading Lakers
- Lakers to be sold to Bob Iger, Joshua Kushner 1 year after Mark Walter bought team – The Athletic
- LA Lakers sell for a record $12 billion to ex-Disney CEO Iger and Jared Kushner’s brother Josh | CNN Business
- MSGS Stock Pops on News of LA Lakers Sale for $12.5 Billion