Lakers sold for $12.5 billion; tax implications loom for new owners

The Los Angeles Lakers have been sold for a record $12.5 billion to a group led by Josh Kushner and Bob Iger. This sale, finalized recently, represents a significant appreciation over the previous $10 billion valuation. The outgoing owner, Mark Walter, faces a potential tax bill exceeding $1 billion due to capital gains taxes associated with the sale. The structure of the sale may influence the final tax owed, depending on the timing of the transaction. As taxes are calculated on the gains realized from the sale, the financial implications could vary significantly.

• 12:00 PMYahoo Sports — The Lakers Just Sold For $12.5B, But Uncle Sam Wants His Cut