SAN FRANCISCO — Joshua Kushner, who is set to become the majority owner of the Lakers should his $12.5 billion purchase of the franchise become official, and former Lakers owner Mark Walter finalized all terms related to the deal at Walter’s home in Florida on Thursday, a source familiar with the situation who was unauthorized to speak publicly told the Southern California News Group.
The source, who was granted anonymity to freely discuss the matter, also said Kushner has raised “all the money necessary” to complete his and Bob Iger’s purchase of the Lakers.
On Friday morning, Front Office Sports reported that Kushner and Iger had been offering minority stakes to potential investors at a value of between $250-300 million.
Many steps and hurdles still remain for Kushner and Iger’s ownership transition to become official.
The NBA needs to review all logistics attached to Kushner and Iger’s eventual ownership group.
The NBA Board of Governors would need to approve the ownership change, which could happen as soon as November or in a few months.
The Buss Family Trust court dispute – over the five Buss siblings’ attempt to sell their 17.8% minority stake in the franchise to Lakers governor Jeanie Buss’ dismay – remains a contentious back-and-forth public battle and will be seen before L.A. Superior Court in December.
But as the Lakers move from Walter to Kushner and Iger, Friday’s news is a step in the right direction toward a second ownership transition in two seasons after years of Buss family control.
Related Posts:
- Lakers’ Collin Sexton makes mark with intense display in victory over Clippers News INGLEWOOD — Collin Sexton screamed in Cam Christie’s face with a Jack Nicholson-like grin as he picked up the Clippers guard at midcourt, his eyes bulging as his intensity bled through into his facial expression. “I was yelling, smiling,” Sexton said of the moment, as he helped the Lakers force…
- GOP Congressman Pushes Kushner to Ask Russia To Stop Bombing Ukrainian Shopping Malls News Rep. Don Bacon (R-NE) responded to a Wall Street Journal report which said Ukraine had paused strikes on Russian refineries under U.S. pressure. According to the WSJ, President Trump’s son-in-law, special envoy Jared Kushner, “told Zelensky that he should pause the strikes because he and U.S. envoy Steve Witkoff were…
- Anthony Joshua warned he could be making huge mistake ahead of Tyson Fury fight Sports Joshua and Fury finally go to war on 11 December (Picture: Getty Images) Former world champion Paulie Malignaggi has defended Anthony Joshua’s trainer Ben Davison – but is not convinced they are the right fit ahead of December’s showdown with Tyson Fury. Davison will be in Joshua’s corner for the…
- Lakers’ Ziaire Williams responds to NBA fining him for flopping News LOS ANGELES — Ziaire Williams on Monday became one of the first targets of the NBA’s increased focus on flopping, when the league fined the Lakers forward $2,000 for a play during Sunday’s game against the Utah Jazz. Jazz rookie guard Darryn Peterson extended his arm toward Williams’ chest, and…
- Lakers players embrace their roles as busy stretch highlights depth News SAN FRANCISCO — Quentin Grimes signed the largest contract of any of the players who joined the Lakers as free agents during the offseason. Four years. $60 million. Based on the financial commitment alone, fans and personnel throughout the league alike expected Grimes to consistently start games for the Lakers…
(Visited 2 times, 2 visits today)