Josh Kushner and Bob Iger move to acquire stake in the Lakers

Josh Kushner and Bob Iger have reached an agreement to purchase Mark Walter’s majority stake in the Los Angeles Lakers. The deal, which values the franchise at $12.5 billion, remains under NBA review. Reports indicate Kushner will serve as the controlling shareholder, requiring a personal 15% stake, while Iger is expected to function as a minority owner and an alternate governor. The pending sale follows the Buss family’s recent decision to sell their remaining 17.8% interest in the team, a move opposed by current governor Jeanie Buss. While initial reports suggested Iger might lead day-to-day management, sources now clarify that Kushner will act as the team’s sole governor. Jeanie Buss retains the option to seek a path to remain in her current leadership role if she secures a 15% stake in the organization.

• 5:20 AMYahoo Sports — Bob Iger’s Role In Lakers’ $12.5 Billion Sale Was ‘Exaggerated’, Josh Kushner To Take Over As Governor
• 3:13 AMYahoo Sports — How Josh Kushner, Bob Iger's ownership of Lakers will be set up