RESOLVING THE LEDGER
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The Los Angeles Lakers have sold — again.
Less than a year after buying a controlling ownership stake in the NBA's Lakers, Mark Walter has sold his majority equity to Joshua Kushner and Bob Iger, according to a statement.
The deal values the team at $12.5 billion, according to a person familiar with the matter, who was not authorized to speak publicly about the terms of the sale.
"As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world," Iger and Kushner said in a joint statement Wednesday. "We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles."
Kushner and Iger have been business partners before. Iger joined Thrive Capital, the venture capital firm run and founded by Kushner, earlier this year. Iger, 75, stepped down as CEO of Disney earlier this year after two stints that totaled roughly 20 years at the helm of the media giant.
Kushner is the brother of Jared Kushner, who is married to U.S. President Donald Trump's daughter Ivanka.
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