Los Angeles Lakers owner Mark Walter and Thrive Capital founder Josh Kushner have agreed on all outstanding terms for the sale of the team at a $12.5 billion valuation, sources close to the negotiations told ESPN. The two met in person at Walter’s Florida home to finalize the transaction and are expected to sign the formal agreement soon. Once signed, the deal will be reviewed by the NBA, which typically takes time to assess financing and ownership structure.
Kushner has assured Walter that all necessary funds have been raised. The partnership between Kushner and former Disney CEO Bob Iger reached the deal with Walter months ago, with both sides working through the details of the transaction since.
Source: ESPN NBA · Summarized by HeadlinesBriefing