The Los Angeles Lakers are entering a new era after Mark Walter agreed to sell the team to former Walt Disney chief Bob Iger and investor Joshua Kushner for a reported $12.5 billion valuation.
Ownership Change
This marks the second change in controlling ownership in the past 14 months, following the end of the Buss family’s decades-long stewardship last October. The Buss family had controlled the Lakers since 1979.
The proposed sale underscores the extraordinary rise in the value of elite sports properties and the particular appeal of a franchise whose profile stretches well beyond basketball.
The Lakers have a global following and a record-setting valuation, with Luka Doncic as the centerpiece. The new owners will inherit a franchise with high expectations to compete for championships.
The team has undergone significant changes, including the acquisition of Luka Doncic from the Dallas Mavericks and the departure of LeBron James, who signed with the Philadelphia 76ers.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
