Los Angeles Lakers Sold to Bob Iger and Josh Kushner for $12.5 Billion

What's Happening? The Los Angeles Lakers are set to be sold to Bob Iger, former CEO of Walt Disney Company, and Josh Kushner, founder of Thrive Capital, for a record $12.5 billion. This sale marks the second time in a year that the Lakers have changed ownership. The transaction follows Mark Walter's

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What is the story about?

What's Happening?

The Los Angeles Lakers are set to be sold to Bob Iger, former CEO of Walt Disney Company, and Josh Kushner, founder of Thrive Capital, for a record $12.5 billion. This sale marks the second time in a year that the Lakers have changed ownership. The transaction

follows Mark Walter's purchase of a majority stake in the team for $10 billion. Iger and Kushner expressed their commitment to building on the Lakers' legacy and competing at the highest level.

Why It's Important?

This sale sets a new record for the highest price paid for a professional sports team, reflecting the immense value and global brand of the Lakers. The involvement of high-profile figures like Iger and Kushner brings significant business acumen and potential new strategies to the franchise. The sale could impact the team's operations, marketing, and fan engagement, especially as the Lakers navigate a new era without LeBron James, who recently joined the Philadelphia 76ers.