Billionaire Josh Kushner and Bob Iger have agreed to purchase a controlling interest in the Los Angeles Lakers at a record valuation of $12.5 billion. This landmark deal represents a 20% increase in the team's valuation in less than a year since its last sale. Following the announcement, shares of sports entertainment companies like Madison Square Garden Sports (MSGS) experienced a rally. The transaction sets a new benchmark for professional sports franchise valuations.
Josh Kushner and Bob Iger agree to acquire a controlling interest in the NBA franchise, marking a 25% valuation surge in just 14 months.
Read the full storyBillionaire Josh Kushner and Bob Iger agree to buy the iconic franchise in a deal reflecting a 20% valuation surge in less than a year.
The landmark $12 billion sale of the LA Lakers triggered a rally in MSGS shares as investors reprice sports franchise valuations.