Mark Walter and Josh Kushner Agree on $12.5B Lakers Sale

Big Deal Finalized in Florida

Los Angeles Lakers owner Mark Walter and Thrive Capital founder Josh Kushner have agreed on all remaining terms to sell the team. The transaction values the franchise at $12.5 billion.

The two men met in person on Thursday at Walter's home in Florida to wrap up the deal. They are expected to sign the formal agreement very soon.

Kushner teamed up with former Disney CEO Bob Iger to make the offer for the team. The buyers have been working through the exact details with Walter over the past few months.

What Comes Next for the Sale

Once the formal agreement is officially signed, the transaction moves to the league office. The NBA will review the deal thoroughly before giving final approval.

That review process generally takes some time to complete. The league will carefully evaluate the financing details and the proposed ownership structure.

Financing should not cause any delays. Kushner assured Walter during their meeting that he has successfully raised all the money needed to finish the purchase.

A Record Setting Price Tag

A purchase price of $12.5 billion stands as a massive valuation for a professional sports franchise. Walter and the buyer group have now resolved every open term on the table.

The focus now turns back to court action. Fans and bettors can watch for official league approval as the team prepares for its upcoming slate of games.

What it means for the next game

Los Angeles Lakers at Golden State Warriors (NBA, Sat, 31 Oct): Golden State Warriors win 41%, Los Angeles Lakers win 59%; projected score Golden State Warriors 115, Los Angeles Lakers 118. Our safest pick: Warriors +11.5.

Toronto Raptors at Los Angeles Lakers (NBA, Mon, 02 Nov): Los Angeles Lakers win 50%, Toronto Raptors win 50%; projected score Los Angeles Lakers 114, Toronto Raptors 113. Our safest pick: Raptors +9.5.