The Los Angeles Lakers were sold for a record $12.5 billion. So now what?
Like every major sports league, the NBA has specific protocols in place to structure the sale of franchises. Those procedures are outlined in Article 5 of the league’s Constitution and By-laws. Yet, given how quickly the agreement came about, and given how much work goes into vetting prospective owners, this is a multi-step process that may take months to resolve, possibly dragging into 2027.
On Wednesday, Aug. 12, Mark Walter agreed to sell the Lakers to businessman Joshua Kushner and former Disney CEO Bob Iger in a deal that set the record for the highest amount paid…
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