Overview
- The buyers confirmed an agreement to purchase Mark Walter’s controlling stake for $12.5 billion, with multiple outlets reporting the deal on Wednesday, Aug. 12.
- The sale must be approved by the NBA’s board of governors and is subject to routine due diligence and Kushner divesting his minority Miami Heat holding before closing.
- Mark Walter bought the Lakers last year for about $10 billion and will retain other sports assets while federal prosecutors and the SEC continue investigations into companies tied to him.
- Iger and Kushner had pursued an NBA expansion franchise in Las Vegas before pivoting to acquire the established Lakers franchise, changing the expansion landscape.
- The deal accelerates elite team valuations and hands the new owners a Lakers roster in transition with Luka Doncic as the centerpiece after LeBron James departed this summer.