The American Sports Plutocracy Is Bullshit
- This week, the businessman Mark Walter agreed to sell the Los Angeles Lakers to venture capitalist Josh Kushner and former Disney CEO Bob Iger.
- Walter had agreed to buy a majority stake in the Lakers just last summer, in a deal that valued the team at $10 billion.
- The latest deal values the iconic franchise at $12.5 billion, a 25 percent premium for roughly a year of Walter doing pretty much nothing, other than getting himself investigated for potential fraud.
Unverified
- This week, the businessman Mark Walter agreed to sell the Los Angeles Lakers to venture capitalist Josh Kushner and former Disney CEO Bob Iger.
- Walter had agreed to buy a majority stake in the Lakers just last summer, in a deal that valued the team at $10 billion.
- The latest deal values the iconic franchise at $12.5 billion, a 25 percent premium for roughly a year of Walter doing pretty much nothing, other than getting himself investigated for potential fraud.
Sources: Derekthompson