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The Los Angeles Lakers are changing hands, with a familiar political family name attached to the record-breaking deal.
Billionaire investor Josh Kushner, the younger brother of US President Donald Trump’s son-in-law Jared Kushner, is buying the legendary NBA team alongside former Disney CEO Bob Iger.
The pair have agreed to pay a reported $12.5 billion, potentially making it the most expensive sports franchise sale in history.
Kushner founded the venture capital firm Thrive Capital and is also married to model Karlie Kloss. His brother Jared is married to Trump’s daughter Ivanka and served as a senior White House adviser during Trump’s first term.
Kushner and Iger confirmed the agreement Wednesday, describing themselves as lifelong NBA fans and saying they intend to build on the Lakers’ legacy.
The team is one of the biggest names in global sport, with a history shaped by stars including Magic Johnson, Kobe Bryant, Shaquille O’Neal and LeBron James.
If completed, the deal would surpass the reported $9.6 billion sale of the NFL’s Seattle Seahawks. The exact Lakers price has not been officially disclosed, however, and the purchase still requires approval from the NBA’s board of governors.
For $12.5 billion, Kushner and Iger get the purple and gold, a global fanbase, and one of sport’s greatest brands. A championship, naturally, is sold separately.
*Source: CNN, AP News
