American global investment and advisory firm
Bob Iger and Josh Kushner have agreed to buy the Los Angeles Lakers from Mark Walter in a transaction valuing the franchise at about $12.5 billion. The sale has been announced this week, requires approval from the NBA Board of Governors and is subject to due diligence and Kushners divestment of a Miami Heat stake.
TWG Global faces federal investigations into affiliated-party loans across its insurers, prompting questions about liquidity and potential impacts on its sports assets, including the Dodgers and Lakers. The company denies fraud and reiterates that its major franchises are not for sale, as regulators review financing and related transactions.
US private equity firm Clearlake Capital has moved close to buying Todd Boehly and Mark Walter’s stakes in Chelsea, valuing the club at about £5bn. The deal follows Mark Walter’s attempt to raise cash to repay insurers amid a US federal tax-fraud investigation; Clearlake already controls day-to-day operations and will obtain full ownership if partners consent.