Lakers Change Ownership for Over $12 Billion

The Los Angeles Lakers are once again shaking up the sports market. Just a year after their previous change in ownership, the historic NBA franchise is reportedly set to be sold for over $12 billion.

According to ESPN, entrepreneurs Josh Kushner and Bob Iger have agreed to acquire control of the Lakers in a deal that would set a new record for a sports franchise.

Lakers Change Ownership Again

The deal comes just a year after Mark Walter acquired control of the Lakers from the Buss family for a valuation of nearly $10 billion.

Now, Walter would be leaving the franchise through a deal valued at over $2 billion more.

From Las Vegas to Buying the Lakers

Kushner and Iger had initially shown interest in participating in a possible NBA expansion project in Las Vegas.

However, their plans changed when the opportunity to acquire one of the most recognized franchises in American sports arose.

Both entrepreneurs decided to submit a bid for the Lakers and have reportedly reached an agreement to take control of the team.

The New Owners Talk About a Long-Term Bet

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Kushner and Iger highlighted the organization’s history and assured that their goal will be to keep the Lakers competing at the highest level.

They also expressed respect for the legacy built by Jerry and Jeanie Buss, whose family was tied to the control of the franchise for decades.

Mark Walter Says Goodbye to the Lakers

Walter, for his part, described his time as owner as one of the greatest honors of his life and expressed confidence in the future of the organization.

His departure comes after a surprisingly short period at the helm of the franchise.

A Franchise Whose Value Seems to Have No Ceiling

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The new deal once again demonstrates the extraordinary growth in the value of major American sports franchises.

The Lakers, one of the most recognized organizations in the NBA and global sports, would now be entering a new era under the leadership of Kushner and Iger.

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