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Josh Kushner and Bob Iger Reach Agreement to Buy Los Angeles Lakers for $12.5 Billion
Just the facts
The investment group led by Kushner and Iger agreed to acquire majority control of the National Basketball Association team from the Buss family. The $12.5 billion valuation surpasses all previous sales figures for professional sports teams worldwide. Final completion of the transaction remains subject to official approval by the NBA Board of Governors. The Los Angeles Lakers have won 17 NBA championships and operate as one of the most prominent athletic franchises in North America.
Why this is news
Thrive Capital founder Josh Kushner and Disney Chief Executive Officer Bob Iger reached an agreement to acquire the Los Angeles Lakers basketball franchise for $12.5 billion. The transaction represents the highest valuation for a professional sports franchise in history.
Sources
This summary is compiled strictly from the original reporting below.