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00:02The Los Angeles Lakers have been sold to Joshua Kushner and Bob Iger in a deal valued at $12.5
00:07billion, according to CNBC. Less than a year after acquiring a controlling stake in the
00:12Lakers at a $10 billion valuation, Mark Walter sold his majority equity in the franchise.
00:16In a joint statement, Iger and Kushner said they plan to build on the Buss family's legacy,
00:21compete at the highest level, and serve the Lakers, their fans, and Los Angeles.
00:25Iger joined Kushner's Thrive Capital earlier this year after stepping down as Disney CEO
00:29following roughly 20 years, leading the company across two stints.
00:33The SEC and U.S. prosecutors are investigating potential financial improprieties at two of
00:38Walter's insurance companies and Guggenheim Partners.
00:41Walter also owns stakes in several sports teams, but the sale announced Wednesday only covers his
00:45Lakers stake.
00:46For all things money, visit Benzinga.com.
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