Bob Iger and Josh Kushner are buying the Los Angeles Lakers, Variety has confirmed.
The deal values the NBA team at more than $12 billion, sources told ESPN and The New York Times. The purchase, from the former Disney CEO and the Thrive Capital founder, comes just 14 months after the Lakers sold to Mark Walter at a $10 billion valuation.
Iger and Kushner’s deal will move forward, pending Thrive’s due diligence and the NBA approval process.
“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 statement to Variety. “We have immense respect for the leadership and vision of 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.”
The change in ownership follows the recent news that LeBron James is leaving the Lakers after eight seasons. In July, the veteran hooper signed with the Philadelphia 76ers in a two-year, $8 million deal.
