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 $12.5 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.”
Walter, the primary owner of the Dodgers, purchased controlling interest in the Lakers from the Buss family last year for $10 billion, which set the record at the time.
Kushner and Iger had been part of the group hoping to land an expansion team in Las Vegas, per EsPN, but opted to instead purchase the team for the largest figure in American sports history.
More to come on this developing story…
