Mark Walter’s sale of the Lakers at a $12.5 billion valuation to a group led by Joshua Kushner and Bob Iger will not be halted by the Buss family drama that erupted Monday, sources tell Front Office Sports.
The surprise deal, announced last week, got another twist when the “Buss family” issued a statement Monday saying it would be selling its remaining 17.8% stake in the team, which is held in a family trust. Jeanie Buss, the team’s governor, quickly disputed that notion. Her lawyer issued a letter arguing the Buss siblings don’t have the right to compel the family to exit.
This all prompted speculation that the acquisition of the Lakers by Kushner and Iger could be at risk.
But two sources familiar with the matter tell FOS that isn’t the case. One source says “it’s worth noting that this is strictly between the family and doesn’t impact the proposed deal with Bob and Josh in any way.”
Still, the timeline for when their deal will go through is not clear. Walter is selling the team less than a year after his purchase was completed—and as his business empire is under federal investigation.
