Chicago (USA) (EFE).- Los Angeles Lakers owner Mark Walter has reached an agreement to sell the Los Angeles franchise to businessmen Josh Kushner and Bob Iger for $12 billion, as reported this Wednesday by the ESPN network, citing multiple sources with knowledge of the operation.
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Less than a year after acquiring the Lakers for nearly 10 billion dollars after an agreement with the Buss family, owners of the Los Angeles team since 1979, Walter is about to close the highest sale ever for an NBA team.
“As lifelong NBA fans, we are deeply honored by the opportunity to become custodians of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have enormous respect for the leadership and vision of Jerry and Jeanie Buss,” Kushner and Iger stated in a press release published by ESPN.
“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,” they added.
Josh Kushner invests in technology companies through Thrive Capital, while Bob Iger advises him on long-term investments linked to iconic brands and cultural assets, such as sports franchises.
Walter, the CEO and chairman of the investment firm TWG Global, described it as an honor to have been part of the Lakers.
“Owning the Los Angeles Lakers has been one of the great honors of my life”
“Owning the Los Angeles Lakers has been one of the great honors of my life: an extraordinary investment, but what I will take with me is the community, the fans, and a city that treats this team like family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles and I have full confidence that the best is yet to come,” Walter said in a note.
Since 2021, Walter controlled 21% of the Lakers and had the right of first refusal on any offer to sell the franchise, something he took advantage of last year to acquire it.
Jerry Buss bought the Lakers in 1979 for $67.5 million in a package that included the NHL’s Los Angeles Kings and the old arena, The Los Angeles Forum.
In 2013, with the death of the patriarch, the franchise passed to his children, with Jeanie Buss taking the helm.
The Lakers have won 11 of their 17 NBA championships with the Buss family, the most successful franchise in that period of time.
