Mark Walter is selling his majority stake in the NBA’s L.A. Lakers to Joshua Kushner and Bob Iger, less than a year after acquiring controlling ownership of the team, according to a statement. Yep, Bob Iger is partial owner of an NBA team now! From Disney to Basketball!
The deal values the Lakers at $12.5 billion, according to a person familiar with the matter who was not authorized to publicly discuss the terms.
“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. “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.”
Iger and Kushner have worked together before. Earlier this year, Iger joined Thrive Capital, the venture capital firm founded and led by Kushner. The 75-year-old Iger stepped down as Disney CEO earlier this year, following two separate stints leading the entertainment giant that totaled nearly 20 years.
Kushner is the brother of Jared Kushner, who is married to Ivanka Trump.
What are your thoughts on Bob Iger’s new business venture?
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