Bob Iger and Josh Kushner Buy the Lakers for $12.5B
Just when you thought sports team valuations couldn't get any wilder, former Disney head Bob Iger and venture capitalist Josh Kushner set a record for a North American franchise.
Mark Walter bought controlling interest in the Lakers back in October at a $10 billion valuation, but he's already flipping the team. Why the rush? Well, his business empire is currently sitting under a federal loan fraud investigation. Enter former Disney boss Bob Iger and Thrive Capital founder Josh Kushner, who just agreed to buy the iconic franchise for a record-breaking $12.5 billion.
Yes, that's Jared Kushner's younger brother teaming up with a 75-year-old former entertainment mogul to cash out a guy whose insurance companies are being probed by federal regulators. The deal still needs approval from the NBA board of governors, but if passed, it instantly becomes the most expensive team sale in North American sports history.
A corporate quick-flip triggered by a federal investigation ending in a Disney-Kushner crossover is definitely not the offseason storyline anyone had on their bingo card.
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