1 hour ago
4
For Bob Iger, his and Josh Kushner’s purchase of the majority ownership of the Lakers from Mark Walter for a historic $12.5 billion valuation was still sinking in as of late Wednesday morning.
Because after the former Disney CEO and his business partner originally pursued ownership stakes in the NBA’s potential expansion in Las Vegas, it came to their attention last weekend that Walter could be interested in selling his stake in the Lakers that he purchased just over a year ago.
Iger and Kushner immediately jumped at the opportunity, coming to an agreement to buy the Lakers within three business days.
“We were involved in pursuing the new franchise in Vegas,” Iger said during an exclusive phone call with the California Post. “And while that happened, it was suggested to us that maybe Mark Walter would be interested in selling his stake in the Lakers. And we immediately decided that given the value of the franchise and the iconic nature of the team, that we would be really smart to pursue it. The deal came together in three days.
“It’s that simple.”
When Walter purchased the majority ownership of the Lakers from the Buss family for a valuation of a then-record $10 billion, the league announced that former majority owner Jeanie Buss would remain the team’s Governor for a period of at least five years.
Iger told the Post he and Kushner intend to honor the agreement made between Walter and Buss.
“We have enormous respect and appreciation for Jeanie, her father and what they’ve contributed to this franchise,” Iger said. “And we have every intention to honor the agreement that was made between Mark and Jeanie. If things change, they’ll change, but we’re going into this with enormous respect and appreciation for who she is and what she represents in the organization.”
Iger shared that has yet to speak to Lakers star Luka Doncic, but mentioned that he spoke with Buss, as well as coach JJ Redick. The Lakers coach and Iger built a relationship while Redick played for the Clippers from 2013-17 – with Iger being a longtime Clippers season ticket holder.
And now, he’ll be leading the Lakers.
“Grateful, appreciative, excited to own something that’s as iconic as the LA Lakers,” Iger said of his feelings. “Josh and I are avid NBA fans. And [to] have an opportunity to own not just any NBA team, but the LA Lakers is…it’s extraordinary from a life experience perspective and business perspective. It’s still sinking in. We’re very excited.”
With the deal coming together so quickly, questions still remain about the vision that Iger and Kushner have for the Lakers.
And what potential changes could come under their ownership.
Iger made it clear it’s too early to speculate what’s to come.
“We’re fans,” Iger said. “We respect the value that’s been created, both on the court and off. Our intention is to build this great franchise from a position of strength in many respects as an organization. We’re smart enough to know what we know and what we don’t know. It’s just premature to speculate at all about what we plan to do, because frankly, we haven’t made any plans yet. Again, we go into this with an appreciation of who the Lakers are. And we just want to build value from today on.”
Iger added: “This is very new.”
English (US)