Lakers owner Mark Walter and Thrive Capital founder Josh Kushner have agreed on all outstanding terms of a sale of the team at a $12.5 billion valuation, sources told ESPN. The two met Thursday at Walter's home in Florida and are expected to sign a formal agreement soon.
After signing, the deal goes to the NBA for review, which generally takes some time because the league examines financing and ownership structure. Sources said Kushner assured Walter he has raised all the money needed. Kushner and former Disney CEO Bob Iger reached the deal with Walter and have been working through details. The sale is also tangled in a legal dispute among the Buss siblings over their family's remaining shares.
Sources: ESPN