The Los Angeles Lakers are set to be sold for a reported record-breaking $12.5B, less than a year after Mark Walter acquired a majority stake in the NBA franchise with Jared Kushner’s brother and the ex-CEO of Disney becoming controlling owners.
$2.5B Surge in Valuation
Josh Kushner, brother of Jared Kushner, and former Disney chief executive Bob Iger are purchasing the controlling interest in the U.S. sports team.
Kushner and Iger are buying the Lakers from Walter, who acquired the team’s controlling interest from the Buss family for a reported $10B just 14 months ago.
The latest deal represents a roughly $2.5B increase in valuation over that period.
Due Diligence
Kushner and Iger expressed their honour in acquiring stewardship of the Lakers, emphasising their lifelong passion for the NBA.
Kushner’s investment group, Thrive Eternal, is conducting due diligence on the transaction.
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