Lakers’ Sale To Kusher-Iger Came Together In Three Days
Editor
Lakers' Sale To Kusher-Iger Came Together In Three Days Bob Iger and Josh Kushner completed their $12.5 billion purchase of majority ownership in the Los Angeles Lakers from Mark Walter after a whirlwind three-day negotiation, Iger told the California Post. The deal emerged unexpectedly from separate expansion talks.
Iger and Kushner had been pursuing ownership stakes in the NBA's potential Las Vegas expansion franchise when they learned last weekend that Walter might be open to selling his Lakers stake, which he acquired just over a year ago.
"We were involved in pursuing the new franchise in Vegas," said Iger. "And while that happened, it was suggested to us that maybe Mark Walter would be interested in selling his stake in the Lakers. And we immediately decided that given the value of the franchise and the iconic nature of the team, that we would be really smart to pursue it. The deal came together in three days.
"It's that simple."
Walter had purchased the Lakers from the Buss family at a then-record $10 billion valuation, with the league stipulating that Jeanie Buss remain the team's Governor for at least five years. Iger confirmed he and Kushner intend to honor that arrangement.
"We have enormous respect and appreciation for Jeanie, her father and what they've contributed to this franchise," said Iger. "And we have every intention to honor the agreement that was made between Mark and Jeanie. If things change, they'll change, but we're going into this with enormous respect and appreciation for who she is and what she represents in the organization."
Iger said he has not yet spoken with Luka Doncic but has connected with Buss and coach JJ Redick. Iger and Redick built a rapport during Redick's playing days with the Los Angeles Clippers from 2013 to 2017, when Iger held Clippers season tickets.
Iger revealed that he and Kushner intend to honor the agreement between Buss and Walter that she will remain as governor of the Lakers for at least five years.
Iger described the moment as still settling in, calling the opportunity to own an organization as iconic as the Lakers extraordinary from both a personal and business standpoint. He emphasized that plans for the franchise's direction remain premature.
"We're fans," said Iger. "We respect the value that's been created, both on the court and off. Our intention is to build this great franchise from a position of strength in many respects as an organization. It's just premature to speculate at all about what we plan to do, because frankly, we haven't made any plans yet."
Bob Iger and Josh Kushner completed their $12.5 billion purchase of majority ownership in the Los Angeles Lakers from Mark Walter after a whirlwind three-day negotiation, Iger told the California Post. The deal emerged unexpectedly from separate expansion talks.
Iger and Kushner had been pursuing ownership stakes in the NBA’s potential Las Vegas expansion franchise when they learned last weekend that Walter might be open to selling his Lakers stake, which he acquired just over a year ago.
“We were involved in pursuing the new franchise in Vegas,” said Iger. “And while that happened, it was suggested to us that maybe Mark Walter would be interested in selling his stake in the Lakers. And we immediately decided that given the value of the franchise and the iconic nature of the team, that we would be really smart to pursue it. The deal came together in three days.
“It’s that simple.”
Walter had purchased the Lakers from the Buss family at a then-record $10 billion valuation, with the league stipulating that Jeanie Buss remain the team’s Governor for at least five years. Iger confirmed he and Kushner intend to honor that arrangement.
“We have enormous respect and appreciation for Jeanie, her father and what they’ve contributed to this franchise,” said Iger. “And we have every intention to honor the agreement that was made between Mark and Jeanie. If things change, they’ll change, but we’re going into this with enormous respect and appreciation for who she is and what she represents in the organization.”
Iger said he has not yet spoken with Luka Doncic but has connected with Buss and coach JJ Redick. Iger and Redick built a rapport during Redick’s playing days with the Los Angeles Clippers from 2013 to 2017, when Iger held Clippers season tickets.
Iger revealed that he and Kushner intend to honor the agreement between Buss and Walter that she will remain as governor of the Lakers for at least five years.
Iger described the moment as still settling in, calling the opportunity to own an organization as iconic as the Lakers extraordinary from both a personal and business standpoint. He emphasized that plans for the franchise’s direction remain premature.
“We’re fans,” said Iger. “We respect the value that’s been created, both on the court and off. Our intention is to build this great franchise from a position of strength in many respects as an organization. It’s just premature to speculate at all about what we plan to do, because frankly, we haven’t made any plans yet.”
