Los Angeles Lakers owner Mark Walter and Thrive Capital founder Josh Kushner have agreed on all outstanding terms of the sale of the team at a $12.5 billion valuation, sources close to the negotiations told ESPN.
The two men met in person Thursday at Walter’s home in Florida to finalize the transaction and are expected to sign the formal agreement soon, those sources said.
Once the agreement is signed, it will be reviewed by the NBA. That process generally takes some time as the league reviews financing and ownership structure.
Sources close to the negotiations said that Kushner has assured Walter he has raised all the money necessary to complete the sale.
Kushner and former Disney CEO Bob Iger reached a stunning deal with Walter to buy the Lakers at the $12.5 billion valuation and have been working on the details of the transaction the past few months.
