The Los Angeles Lakers are set to be sold for a record-breaking $12.5bn (£9.25bn) to Josh Kushner, the venture capitalist who was at the centre of FIFA’s proposed new commercial structure.
Kushner and former Disney chief executive Bob Iger are set to buy the NBA franchise from Chelsea co-owner Mark Walter.
Walter only bought the team last year for a valuation of $10bn (£7.4bn) – at the time the highest ever fee for a sports franchise. He is now already set to see a big return on that investment as a new record is set.
“As lifelong NBA fans, we are deeply honoured for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” Kushner and Iger said in a statement to Sky Sports News.
“We have immense respect for the leadership and vision of [former Lakers owners] 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.”
LeBron James played with the Lakers for eight years
Walter, who also owns a stake in the LA Dodgers with Todd Boehly, bought a 27 percent stake in the Lakers in 2021 before increasing that to 85 per cent last year.
The Buss family held 15 per cent and it is uncertain whether that stake, too, has been sold to Kushner and Iger.
The takeover would require approval from the NBA Board of Governors and comes a month after Kushner’s Thrive Capital found itself at the centre of a plan to sell of a stake in the World Cup.
Kushner’s older brother Jared is married to Donald Trump’s daughter, Ivanka Trump. Iger was CEO of Walt Disney until earlier this year.
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Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: skynews.com
