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Josh Kushner and Bob Iger seek Lakers purchase worth more than $12bn

The proposed sale would require approval by the NBA board of governors, with the next meeting scheduled for September.

Reported · Written up by our desk · M&A & Deals

Josh Kushner and Bob Iger are reported to be buying the Los Angeles Lakers for more than $12bn, according to ESPN, citing people with knowledge of the deal. The Lakers are valued at $10bn in the earlier transaction when billionaire Mark Walter bought a majority stake from the Buss family last year. That deal was approved by the board of governors in October.

Kushner and Iger, in a statement cited by ESPN, said they are honored to become stewards of the franchise and plan a long-term effort to build on the Buss family foundation and compete at the highest level.

Any deal to acquire the Lakers would still need NBA board approval, and the board's next meeting is due to take place in September. Walter also said the purchase was an extraordinary investment, while emphasizing the community, fans, and Los Angeles ties of the team.

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