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Thrive Capital founder Josh Kushner and former Walt Disney Co. CEO Bob Iger have reached a deal to buy control of one of the most storied franchises in professional sports, the Los Angeles Lakers.
ESPN reported that the deal will value the Lakers at $12.5 billion, a significant jump in the franchise’s $10 billion value last year when businessman Mark Walter purchased a controlling stake in the team. The NBA board of governors still needs to approve the transaction. Kushner and Iger are purchasing the stake of Walter, who reportedly owns more than 70% of the team, which means the duo are likely spending at least $8.75 billion on the deal.
It is likely there will be other unannounced investors joining Kushner and Iger’s ownership group. Forbes estimates Kushner’s personal net worth at $5.2 billion while the magazine in 2019 estimated that Iger’s net worth was then around $700 million. Prior to the Lakers deal, Kushner and Iger were reportedly exploring a bid to bring an NBA franchise to Las Vegas if the league decides to expand its current roster of teams.
https://www.espn.com/nba/..