Lakers’ $12.5B sale to Josh Kushner finalized at Mark Walter’s Florida home

Los Angeles Lakers owner Mark Walter and venture capitalist Josh Kushner have agreed on all remaining terms for the $12.5 billion sale of the team during a meeting at Walter's Florida home. Kushner informed Walter that he has secured the necessary funds to complete the purchase alongside former Disney CEO Bob Iger. The transaction marks a rapid turnaround after Walter originally purchased the franchise for $10 billion.

The finalized deal must now secure approval from at least three-quarters of the NBA Board of Governors before it becomes official. Meanwhile, a separate legal dispute continues between Lakers governor Jeanie Buss and her siblings over selling the Buss family's 17.8% stake to Kushner and Iger, though the Walter-Kushner transaction is not expected to be affected.