The Lakers are once again being sold at a record-breaking valuation.
Mark Walter is selling the franchise to Josh Kushner and Bob Iger at a valuation of over $12 billion, ESPN.com first reported.
“Owning the Los Angeles Lakers has been one of the great honors of my life – an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said in a statement to ESPN. “I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
Walker purchased controlling interest in the Lakers from the Buss family last year.
A little more than one year after businessman Mark Walter purchased a majority stake of the Lakers for a historic amount, the franchise is now being sold to businessman Josh Kushner and former Disney executive Bob Iger for a record $12 billon, according to ESPN.
Kushner and Iger had been part of the group hoping to land an expansion team in Las Vegas, but opted to instead purchase the team for the largest figure in American sports history.
Walter, the primary owner of the Dodgers, agreed to purchase a majority stake of the franchise from the Buss family for $10 billion last year, which set the record at the time.
More to come on this developing story…
