The Los Angeles Lakers are set to be sold for a record-breaking $12.5bn (£9.25bn) to Josh Kushner, the venture capitalist who was at the centre of FIFA’s proposed new commercial structure.
Kushner, and former Disney chief executive Bob Iger are set to buy the NBA franchise from Chelsea co-owner Mark Walter, Sky Sports News understands.
Walter only bought the Lakers last year for a then-record £7.4bn but is now expected to see a big return on his investment.
Joshua Kushner, founder of Thrive Capital, was involved in the bid to buy a stake in the FIFA World Cup
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” Kushner and Iger said in a statement to Sky Sports News.
“We have immense respect for the leadership and vision of [former Lakers owners] Jerry and Jeanie Buss.
“Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
LeBron James played with the Lakers for eight years
Walter, who also owns a stake in the LA Dodgers with Todd Boehly, bought a 27 percent stake in the Lakers in 2021 before increasing that to 85% last year.
The Buss family held 15 per cent and it is uncertain whether that stake, too, has been sold to Kushner and Iger.
The takeover would require approval from the NBA Board of Governors and comes a month after Kushner’s Thrive Capital found itself at the centre of a plan to sell of a stake in the World Cup.
Kushner’s older brother Jared Kushner is married to Donald Trump’s daughter, Ivanka Trump. Iger was CEO of Walt Disney until earlier this year.
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