Ramona Shelburne
Los Angeles Lakers owner Mark Walter and Thrive Capital founder Josh Kushner have agreed on all outstanding terms for the sale of the franchise at a $12.5 billion valuation, sources familiar with the negotiations told ESPN.
The two principals met in person Thursday at Walter’s Florida residence to finalize the transaction and are expected to execute the formal agreement shortly, according to those sources.
Once signed, the agreement will be submitted to the NBA for review, a process that typically takes several weeks as the league examines the financing and ownership structure.
Sources indicated that Kushner has assured Walter he has secured all necessary capital to complete the acquisition.
Kushner and former Disney CEO Bob Iger originally struck the landmark deal with Walter to purchase the Lakers at the $12.5 billion valuation and have spent the past several months finalizing transaction details.
