00:00The Los Angeles Lakers are being sold to Josh Kushner and Bob Iger, former CEO of Walt Disney Company, for
00:06$12 billion.
00:07This is according to ESPN, and they're citing multiple sources.
00:11This Iger-Kushner group pivoted to make an offer to the Lakers for Mark Walter,
00:17who purchased a controlling interest in the team last year.
00:20Let's get some more reporting on this. I was not really expecting this deal at all, but that's a big
00:24number.
00:24That's a lot of money. It's a great team.
00:26He's used to big numbers. I mean, Randall Williams, he's the business of sports. He knows what's going on out
00:30there.
00:31Randall, talk to us about this deal. I didn't know the Lakers were necessarily for sale.
00:36Before we begin, if you see me texting, it's because I'm learning details.
00:41Breaking, breaking news.
00:42But it is absolutely huge news. It's a shock to the sports world to see a franchise like the Lakers
00:48turn over.
00:49I believe they sold in 24. I don't think it was last year.
00:52But to see them turn over twice and add $2 billion in valuation is absolutely shocking.
00:58I've also confirmed that they are being bought.
01:00Of course, Joshua Kushner owns a stake in the Miami Heat as well.
01:04That will need to be divested.
01:06And he also had an interest in the NBA expansion, specifically in Las Vegas.
01:10That is obviously going to be abandoned now as well.
01:14What about, apparently Mark Walter owned the L.A. Lakers before now?
01:18Did he want to sell, or is the number just really big?
01:21What happened?
01:23That's a bit unclear right now.
01:24I mean, I think there's a DOJ investigation into Mark Walter.
01:28There was another report that I saw that said he had health issues as well.
01:32But it's unclear as to why Mark Walter, who just bought the Lakers for $10 billion,
01:37would flip this prized asset as quickly as he did.
01:42He did make $2 billion.
01:43Yes, he did.
01:44It's not a bad deal.
01:46That's a good trade.
01:47Where's the money coming from?
01:49$12 billion is a lot of cash.
01:53That's a good question.
01:54I mean, obviously Joshua Kushner has money that I don't know about.
01:59Bob Iger has made a pretty penny, you know, being the Walt Disney CEO.
02:04But the exact financing is to be determined.
02:06It's just that an agreement has been reached.
02:09The Board of Governors of the NBA still has to approve of this.
02:12And so the financing is a bit unclear.
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