Billionaires Buy into Basketball's Biggest Stage The latest high stakes deal in the sports world is not just a record breaking sale of the Los Angeles Lakers, but also a symptom of a broader trend where billionaire investors are scrambling to own a piece of live action entertainment.
The $12. 5 billion transaction has all the makings of a classic Hollywood blockbuster: megastars, astronomical sums, and behind the scenes power brokers.
Potential buyers Bob Iger and Josh Kushner have made a swift shift in focus from Las Vegas to LA, indicating they are eager to seize control of valuable sports franchises as a means of diversifying their portfolios and generating returns on investment.