Lakers Ownership Shake-Up: Walter and Kushner Finalize $12.5B Deal
The Los Angeles Lakers are set to be sold at a $12.5 billion valuation, with owner Mark Walter and Thrive Capital founder Josh Kushner finalizing all terms. A formal agreement is pending, after which the NBA will conduct its review. Josh Kushner, along with Bob Iger, has assured that all necessary funds have been raised for the acquisition.
The sale of the iconic Los Angeles Lakers basketball team has reached a significant milestone, with owner Mark Walter and Thrive Capital founder Josh Kushner finalizing all outstanding terms. Sources close to the negotiations, who spoke to ESPN, confirmed that the agreement values the team at a staggering $12.5 billion. The two principals met in person at Walter's Florida residence on Thursday to conclude the transaction details.
A formal agreement document is anticipated to be signed imminently. Following the signing, the transaction will be submitted to the National Basketball Association (NBA) for its customary review process. This review typically involves a thorough examination of the financing arrangements and the proposed ownership structure, a procedure that can take a considerable amount of time.
Josh Kushner has provided assurances to Mark Walter that he has successfully secured all the necessary capital to complete the acquisition. This development follows an earlier, unexpected deal reached between Kushner, along with former Disney CEO Bob Iger, and Walter to purchase the Lakers at the aforementioned $12.5 billion valuation. Details of this complex transaction have been under negotiation for several months, culminating in the recent agreement on terms.