Walter dumps Lakers for $12B, faces fraud probe
Mark Walter bought the Lakers from the Buss family a year ago for $10B. Now he's selling to Josh Kushner and Bob Iger for $12B.
Timing's interesting: Walter's under federal investigation for loan fraud. You don't usually unload a $12B asset right when the feds are circling unless something's pressing.
The Los Angeles Lakers are being sold to American businessman Josh Kushner and Bob Iger for a record breaking price over $12 billion, multiple sources told ESPN. Kushner and Iger were involved in the expansion process in Las Vegas, but a stunning turn, they pivoted to make an aggressive offer to buy the Lakers from Mark Walter, who had purchased a controlling interest in the team from the Buss family last year.
A billionaire dumping a major sports asset during a federal fraud investigation raises questions about what he knows and when.
Source
x.com