Mark Walter Sells Lakers Stake to Kushner-Iger Group in $12.5 Billion Deal
Mark Walter has sold his stake in the Los Angeles Lakers to a group led by Joshua Kushner and Bob Iger, a move that is part of the $12.5 billion deal for the team and reflects a significant bet on the booming sports TV market.
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The $12.5 billion Lakers deal is a bet that sports TV will keep booming. The NFL may test that.
Luke Hales/Getty; Mark Baker/AP; Getty Images; BI Prices for TV sports deals almost always go up. That's the rationale for Bob Iger and Josh Kushner paying a record amount for the LA Lakers. But over at the NFL — the dominant force in TV — there are signs that the rise won't go on forever. Bob Iger and Josh Kushner plan to buy the Los Angeles Lakers at a record-setting price of $12.5 billion. The best argument for that price: The value of sports TV deals is the one thing that keeps going up...
Read full article →‘He Might Actually Go to Jail’ — Bill Simmons Drops Mark Walter Bombshell, Predicts Dodgers Sale After Lakers, Chelsea Moves
Less than a year after officially purchasing the Los Angeles Lakers, Mark Walter has sold his stake in the team to a group led by Joshua Kushner, the brother of Donald Trump’s son-in-law, Jared Kushner, and Bob Iger, the former CEO of Disney. The move came as a surprise to many, but a little digging on Walter’s financial situation shows that there may be a lot more to the sale than meets the eye.
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