Kushner Finalizes Lakers Deal Terms with Mark Walter
The Thrive Capital founder confirmed he has raised the full capital needed for the $12.5 billion acquisition.
By Nikolai Patterson ·
Joshua Kushner and former Lakers owner Mark Walter agreed on all final terms for the sale of the NBA franchise on Thursday at Walter’s Florida residence. An anonymous source familiar with the discussions told the Southern California News Group that the two parties concluded their negotiations, marking a key milestone in the transfer of control.
Kushner, who founded the investment firm Thrive Capital, stated that he has secured all necessary funding for the $12.5 billion purchase. He will serve as the majority owner alongside Bob Iger once the deal becomes official. The source, who was granted anonymity to discuss the matter, confirmed that Kushner raised the full amount required to close the transaction.
Front Office Sports reported on Friday that Kushner and Iger have been offering minority equity stakes to potential investors. The value of these individual stakes ranges from $250 million to $300 million. This move is part of the process to finalize the new ownership group structure.
The NBA must still review the logistics of the new ownership team. The NBA Board of Governors will hold a vote to approve the change, which could occur as early as November or take several months. Until that approval is granted, the Lakers remain under the current management structure.
A separate legal dispute involving the Buss family continues in parallel. Five Buss siblings are attempting to sell their 17.8% minority stake to Jeanie Buss, the Lakers governor. The case is currently in a contentious public battle before L.A. Superior Court, with the next hearing scheduled for December.
This transaction represents the second ownership transition for the Lakers in two seasons, ending years of Buss family control.
