Los Angeles Lakers sale: Mark Walter agrees record-breaking £9bn deal to sell franchise to Josh Kushner and Bob Iger
The Los Angeles Lakers are being sold in a record-breaking deal worth £9bn; Chelsea co-owner Mark Walter sells the franchise just 14 months after buying it for a then-record $10bn (£7.4bn); the buyers are Bob Iger and Josh Kushner, brother of Donald Trump's son-in-law
Kushner, and former Disney chief executive Bob Iger are set to buy the NBA franchise from Chelsea co-owner Mark Walter, Sky Sports News understands.
Walter only bought the Lakers last year for a then-record £7.4bn but is now expected to see a big return on his investment.
"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," 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."
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% 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 Kushner is married to Donald Trump's daughter, Ivanka Trump. Iger was CEO of Walt Disney until earlier this year.
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