Bob Iger, former CEO of Disney, and Joshua Kushner, founder of Thrive Capital, are set to acquire the Los Angeles Lakers for a record $12.5 billion. This sale occurs just a year after the team was purchased by Mark Walter, owner of the Dodgers, for $10 billion. The transition is awaiting official confirmation, as sources close to the transaction, but unauthorized to speak publicly, have revealed to The Times.
Kushner and Iger: Key Figures in the Acquisition
Kushner, known for his extensive interest in sports investments, holds stakes in various sports leagues, including the NBA and global soccer teams. His brother, Jared Kushner, is married to Ivanka Trump, highlighting the family’s high-profile connections. Meanwhile, Iger has a solid background in managing major franchises in Southern California, previously acquiring a controlling stake in Angel City FC with his wife, Willow Bay.
Former Owner’s Selling Decision Amid Investigations
The sale from Mark Walter, who owns the Dodgers, comes at a time when his financial dealings are under federal investigation. The probe examines related-party transactions linked to his empire, signaling potential conflicts of interest. The Wall Street Journal reported that $16 billion in potentially fraudulent loans are part of this scrutiny.
Jeanie Buss to Continue as Team Governor
Despite the ownership change, Jeanie Buss will remain the team’s governor, extending the Buss family’s influence over the franchise. The Buss family ran the team for over four decades, making it one of the world’s most iconic sports brands.
Lakers’ Legacy and Future
The Lakers, featuring star player Luka Doncic, are not new to ownership changes. Doncic expressed optimism about the new ownership, emphasizing the franchise’s limitless potential. The team’s upcoming NBA Cup play begins against the Golden State Warriors on October 30, continuing to highlight their competitive edge.
“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA,” Doncic remarked, signaling his support for the new leadership.
Key Reactions
Magic Johnson, a Lakers legend and minority owner, voiced support for Iger and Kushner. He highlighted Iger’s deep connection with the city and the sport, affirming his confidence in their ability to lead the Lakers to success.
Walter’s Continued Role in Los Angeles Sports
While selling the Lakers, Walter shows no intention of selling the Dodgers, maintaining his presence in Los Angeles sports. His decision to sell the Lakers, despite its unclear motivations, marks a significant shift in the city’s sports landscape.
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