Now Reading: Bob Iger, Josh Kushner to buy Los Angeles Lakers for $12.5 billion
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Bob Iger, Josh Kushner to buy Los Angeles Lakers for $12.5 billion
Former Disney CEO Bob Iger and venture capitalist Josh Kushner have agreed to buy the Los Angeles Lakers for a record $12.5 billion (approx Rs 1,05,000 crore), according to a source familiar…
The Story in Brief
Former Disney CEO Bob Iger and venture capitalist Josh Kushner have agreed to buy the Los Angeles Lakers for a record $12.5 billion (approx Rs 1,05,000 crore), according to a source familiar with the deal who spoke to The Associated Press. The price smashes the previous record of $10 billion set just last year, when billionaire Mark Walter bought a controlling stake from the Buss family. The sale needs NBA board approval, expected at a September meeting in New York.
Iger and Kushner had previously explored launching an expansion team in Las Vegas. The Lakers, 17-time NBA champions, won their last title in 2020. The squad recently lost LeBron James to the Philadelphia 76ers but retains star Luka Doncic. Mathrubhumi reports that the deal comes amid federal and SEC investigations into Walter's business empire, as reported by multiple media outlets.
The Indian Opinion
Some Indian fans will grumble that a historic American team's price is just a billionaire's vanity project, while others will point to the Lakers' global brand as fair value. But the real story here is the speed of the flip: Mark Walter bought control ten months ago for Rs 83,900 crore (approx $10 billion) and is now selling for a 25% profit. Indian regulators might ask: does this inflate valuations for upcoming IPL or Pro Kabaddi franchise sales? The NBA's board approval next month will be the first test.
Sources (2): english.mathrubhumi.com, thehindu.com
This story was synthesised by AI from the 2 sources linked above.
