Los Angeles Lakers Sold to Kushner and Iger for $12.5 Billion, Raising Questions About Future

What's Happening? The Los Angeles Lakers have been sold to Joshua Kushner and Bob Iger for $12.5 billion, just 14 months after Mark Walter acquired the team. The sale, which was completed over a weekend, has surprised many in the sports industry. Walter, who initially bought the Lakers for $10 billi

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What is the story about?

What's Happening?

The Los Angeles Lakers have been sold to Joshua Kushner and Bob Iger for $12.5 billion, just 14 months after Mark Walter acquired the team. The sale, which was completed over a weekend, has surprised many in the sports industry. Walter, who initially

bought the Lakers for $10 billion, is reportedly selling to raise cash amid investigations into his financial dealings. The Buss family will retain a 15% stake in the team, and Jeanie Buss will continue as the official governor. The sale does not affect the ownership of the Los Angeles Dodgers or the WNBA's Los Angeles Sparks.

Why It's Important?

This sale marks a significant shift in the ownership of one of the most storied franchises in the NBA. The involvement of Joshua Kushner, brother of Jared Kushner, and Bob Iger, former CEO of Disney, brings new dynamics to the team's management. The sale could impact the Lakers' operational strategies, especially given Walter's previous efforts to integrate analytics into the team's operations. The transaction also highlights the financial pressures and opportunities in owning major sports franchises, as well as the potential influence of political connections in business dealings.

What's Next?

The sale must be approved by two-thirds of the NBA's Board of Governors, a process expected to be a formality. The new owners have yet to outline their plans for the team, but they have expressed respect for the Lakers' legacy. The future management style and strategic direction under Kushner and Iger remain to be seen, particularly in terms of player acquisitions and business operations.