Lakers Sold to Kushner, Iger for $12.5B

Irwin Kishner, co-chair of Herrick's Sports Law Group and co-chair of Herrick's Corporate Department, was quoted in Front Office Sports in an article discussing the sale of the Lakers and how the deal sets a valuation record for a control sale of a U.S. pro sports franchise. According to the article, the sale price is reportedly $12.5 billion, adding about $2.5 billion to the Lakers' valuation since the seller acquired the Lakers less than 14 months ago.  

“It’s a little hard to fully fathom all the reasons for what’s going on, but a $2.5 billion lift in such a quick turnaround is definitely a nice day’s work, so to speak,” said Irwin. “Mark’s not a buy-and-sell guy. So that suggests that there may be something else percolating here.”

Kishner also commented that, "Walter’s sale provides a key jolt of liquidity at a point when pro team franchise values continue to rise at accelerating rates."

“The values keep going north, north, north, but I still think there’s more room to go,” Irwin noted. “It’s still very limited supply and big demand out there in what is a very hot space. You add in the Lakers brand and their market, and it adds up to what you see here.”

Read the full article on Front Office Sports here. Access may require a subscription.