Sources: Josh Kushner, Bob Iger to buy Lakers for $12.5B
The Los Angeles Lakers are being sold to Josh Kushner and Bob Iger for $12.5 billion, a record-breaking price, multiple sources told ESPN.
The businessmen were involved in the expansion process in Las Vegas, but in a stunning turn, they pivoted to make an aggressive offer to buy the Lakers from Mark Walter, who had purchased a controlling interest in the team from the Buss family last year for a then-record franchise valuation of approximately $10 billion.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” Kushner and Iger said in a statement. “Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
Walter, the CEO and chair of diversified holding company TWG Global, has been the Lakers’ majority owner since last October when his bid was unanimously approved by the NBA.
“Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead,” Walter said in a statement.
The sale still will need approval from the NBA’s board of governors, and that process can take several weeks. The next board meeting is set for next month in New York.
Walter and TWG Global have interests in multiple professional sports organizations, including the Los Angeles Dodgers, Los Angeles Sparks, Premier League club Chelsea and the Professional Women’s Hockey League. And through TWG Motorsports, Walter owns several auto racing teams, including Cadillac Formula 1.
Walter, 66, is selling only the Lakers in this transaction, sources told ESPN.
Walter, who built his financial empire in the insurance industry, is under federal investigation for alleged tax fraud by other companies tied to the billionaire.
Bloomberg reported in July that U.S. prosecutors in Manhattan are examining whether Delaware Life Insurance Co. and Clear Spring Life and Annuity Co., two insurers controlled by Walter, failed to disclose that their private credit holdings backed other Walter-controlled ventures. The Securities and Exchange Commission is running a parallel investigation, according to the Bloomberg report.
Kushner, 41, founded and runs venture capital firm Thrive Capital and is the co-founder and vice chairman of Oscar Health. Kushner is the brother of President Donald Trump’s son-in-law Jared Kushner, who runs Thrive Eternal, the investment fund FIFA wanted to sell a minority stake of to run its World Cup tournaments for $4.2 billion. FIFA president Gianni Infantino withdrew that proposal earlier this month.
Iger, 75, was succeeded this year as Disney’s CEO by Josh D’Amaro, ending his second term in the role. In 2024, along with wife Willow Bay, he became the controlling owner of NWSL team Angel City FC.
The Associated Press contributed to this report.
Stock market crash coming soon
https://halturnerradioshow.com/index.php/news-selections/world-news/clean-out-your-home-basement-garage-now-while-there-are-still-services-to-get-rid-of-it-all
https://www.zerohedge.com/energy/absolutely-unprecedented-diesel-crack-spread-hits-record-refined-products-crisis-arrives
If bond yields don’t fade here, I see the next catalyst.
Then markets crash, the Fed steps in, institutes YCC and the markets take off again.
There needs to be flock cameras on every corner to monitor our subdermal implants. Our allegiance to the synagogue of Satan must never be in question.
It’s getting to easy to make money in the stock market for me. Something has to give . Me and my next door neighbors landscaper are always talking stocks. That’s a bad omen.
In Tom’s Brook, VA Love’s, regular gas is $3.54/gal. Diesel is $6.04. I have never seen that disparity before. The trucks are paying, so that means we do.
The domestic oil and gas producers are making so much money. USA, Inc. is rocking. Thanks, Iran, for closing the Straits of Hormuz.
This reminds me of 1984 and the imaginary fighting on the Malabar front. Winston would watch the telescreens at the Victory Cafe as the Ministry of Peace would report on the brave soldiers fighting the imaginary war as the proles lived in poverty and partook in all forms of debauchery. The book portrays a tableau that mirrors today.
Welcome to the New World Order. There won’t be any crashes, unless it furthers the agenda. There needs to be Flock cameras on every corner, monitoring our subdermal implants. Enjoy!
Imagine how much data capacity will be needed to monitor our subdermal implants. These data centers will be vital to enforce everything and to introduce the whispers into the minds of those who took the implants.
The whispers will tell us to fight Michael and the archangels and to reject Yahweh, the God of Israel, and his second coming.
The whispers that will come from the data centers and will be channeled into our minds will tell us to reject father Yahweh, yet embrace allah, Buddha, the Hindu gods, Sikhism, and all the other religions. The truth of Father Yahweh will be buried and scorned.
yeah you are probably right – even working in the IT space I find it hard to believe we need so many of these datacenters being built across literally every single state. I live in a fairly rural area and every where you go you see stop the datacenter signs as they are eating up about 700acres of open farmland less then 15mins from my house for a 16 building datacenter campus posited as for AI though I’ve never heard of this particular company building it and to my knowledge it has no ties with any of the big hyperscalers or datacenter companies. And I will add that since I work remote I speak to people across multiple states and over seas and it seems building out datacenters is an “everywhere” thing.
Yes. They are building them everywhere. They’re building them in cornfields in rural Virginia, where there’s not even a utility grid. They are building everything from scratch. I have to conclude that it’s to monitor our subdermal implants during the Great Reset and after. Or, should I say, the Great Tribulation?
There are hundreds of flock cameras going up in all of these little tiny towns here in the Shenandoah valley. They are in places I never even would have thought of. There are flock cameras now installed on little side roads.
There’s no escape. Much of my eschatological analysis is aspirational in nature. I mean, if there’s no divine intervention coming, we are doomed.
Ephesians 2:2 Wherein in time past ye walked according to the course of this world, according to the prince of the power of the air, the spirit that now worketh in the children of disobedience:
These data centers will put the prince of the power of the air in hyper drive!
As we approach the force majeure and wormwood, retail sales are struggling. The asset owners are doing very well, while wage earners continue to get pummeled.
Retail Sales (YoY) (Jul)
Act: 5.01% Prev: 6.75%
Retail Sales (MoM) (Jul)
Act: -0.6% Cons: 0.1% Prev: 0.2%
Core Retail Sales (MoM) (Jul)
Act: -0.3% Cons: 0.2% Prev: -0.2%
Retail Control (MoM) (Jul)
Act: -0.4% Cons: 0.3% Prev: 0.4%
Retail Sales Ex Gas/Autos (MoM) (Jul)
Act: -0.2% Prev: 0.4%
How do I know the Japanese yen is collapsing? I look at the Nikkei 225.
GAME and CURI were named new Zack’s upgrades to #1 this morning. Took trade positions. Could be out in a couple hours, could add on weakness. I’ll let my last subscriber know in real time.
Sold 35% of GAME just after open.
Sold half CURI at 3.78 9:45 stop loss.
PPI (MoM) (Jul)
Act: 0.0% Cons: 0.2% Prev: -0.1%
PPI (YoY) (Jul)
Act: 4.7% Cons: 4.9% Prev: 5.5%
PPI ex. Food/Energy/Transport (YoY) (Jul)
Act: 4.7% Cons: 4.7% Prev: 5.0%
PPI ex. Food/Energy/Transport (MoM) (Jul)
Act: 0.4% Prev: 0.1%
PPI-FD Goods (MoM) (Jul)
Act: -1.4 % Prev: -0.7 %
PPI-FD Goods (YoY) (Jul)
Act: 7.9 % Prev: 6.5 %
Core PPI (MoM) (Jul)
Act: 0.2% Cons: 0.3% Prev: 0.4%
Core PPI (YoY) (Jul)
Act: 4.2% Cons: 4.2% Prev: 4.7%
Initial Jobless Claims
Act: 209K Cons: 202K Prev: 200K
Continuing Jobless Claims
Act: 1,777K Cons: 1,800K Prev: 1,799K
Jobless Claims 4-Week Avg.
Act: 199.00K Cons: Prev: 199.00K
I remember the local lotto jackpot hitting about 20 million for the first time in the early 1980s when I was in grade 9. We wanted to buy tickets but couldn’t yet although we talked about what we would do with that much money. My cousin said he wanted to buy a hockey team which I thought was ridiculous at the time. Not so ridiculous now.
Will Iger appoint Zendaya as center?
lol…I hope so!