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Lakers sell to Joshua Kushner, Bob Iger for $12.5 billion

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Lakers sell to Joshua Kushner, Bob Iger for $12.5 billion

Mark Walter’s time as the majority owner of the Los Angeles Lakers is up after less than a year.

After purchasing his stake in the organization for a $10 billion valuation in October, the Lakers were sold to American businessmen Josh Kushner and Bob Iger for a record price of over $12 billion.

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“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” Kushner and Iger said in a statement, via ESPN

“Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”

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Josh Kushner and Bob Iger

Joshua Kushner and Bob Iger at the 2025 U.S. Open Tennis Championships at USTA Billie Jean King National Tennis Center Sept. 2, 2025, in Flushing Meadows, Queens, New York City. (XNY/Star Max/GC Images)

“Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead,” Walter said in a statement.

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Iger is the former CEO of Disney, holding that title two separate times. He stepped down in March. Kushner, the younger brother of Ivanka Trump’s husband Jared, founded Thrive Capital and Oscar Health.

Kushner and Iger were in the sweepstakes for purchasing an NBA expansion team in Las Vegas. Walter, though, is under federal investigation for alleged tax fraud.

Josh Kushner

Joshua Kushner attends the 2023 Met Gala Celebrating “Karl Lagerfeld: A Line Of Beauty” at The Metropolitan Museum of Art May 1, 2023, in New York City. (Jamie McCarthy/Getty Images) / Getty Images)

KNICKS STAR JALEN BRUNSON IS A MAN OF THE PEOPLE, REVEALS THE ONE THING HE CAN’T LIVE WITHOUT

When Jerry Buss died in 2013, the Lakers were passed down to his children, and Jeanie has been serving as the team’s governor ever since. Reports stated she would be the governor of the team for five more years even after the sale to Walter.

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The Lakers are in a new era now headlined by Luka Dončić after LeBron James’ eight-year tenure ended earlier this summer. The NBA’s all-time scorer joined the Philadelphia 76ers on a two-year contract.

Luka Doncic claps

Los Angeles Lakers guard Luka Dončić reacts during the second half in Game 5 of the first round for the 2025 NBA Playoffs at Crypto.com Arena. (Gary A. Vasquez/Imagn Images / IMAGN)

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The Lakers won 11 of their 17 championships under Buss ownership, with their last in 2020. Walter remains the CEO of Guggenheim Partners and the majority owner of the Los Angeles Dodgers.

Fox Business’ Scott Thompson contributed to this report.

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BofA to invest $1.9 billion for 49.9% stake in Jio Financial NBFC unit

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BofA to invest $1.9 billion for 49.9% stake in Jio Financial NBFC unit
Bank of America will acquire up to 49.9% stake in Jio Credit, a unit of Jio Financial Services , for as much ‌as 182.68 ⁠billion ⁠rupees ($1.92 billion), the companies said on Wednesday.

The U.S. lender will be a joint venture partner in Jio Financial’s non-bank lending arm through a preferential allotment of equity shares and ⁠warrants.

The transaction ‌initially gives Bank ​of ​America a 26.5% stake, which ⁠can go up to 49.9% upon ​exercise of the warrants.
The deal is the latest large investment in India’s financial services sector, which include Japan’s MUFG investment in Shriram Finance and ‌Dubai-based bank Emirates NBD’s 60% stake in lender RBL Bank.
“The ​investment will ​allow ⁠BofA to expand its participation in the rapidly growing Indian market …. while doing ​so with a partner that has local expertise,” the companies said in a statement.

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How Gamification is Redefining Workplace Team Building

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How Gamification is Redefining Workplace Team Building

Traditional team-building activities have become largely obsolete thanks to emerging technology and hybrid work models.

Thankfully, forward-thinking businesses can now integrate new ways of creating stronger teams while boosting morale and productivity.

Why Traditional Team Building is Failing

For decades, the standard corporate approach to building team spirit relied on things like an annual company day out. Going to an escape room or an assault course followed by a meal together was a costly exercise, and it’s fair to say that not everyone agreed that it was an effective method of forging workplace bonds.

As time has passed and the way we work has fundamentally changed, the flaws in the traditional team-building events have become impossible to ignore.  The operational disruption caused by closing down operations so everyone can join a day out is one thing, but the fact that many remote and hybrid workers can’t join these events is another reason why new ideas were needed.

How Gamification and Friendly Competition Lead the Way

When looking for ways to replace those outdated annual outings, the switch to workplace gamification seemed like an obvious choice. Adding game mechanics to daily workflows and creating friendly competition elements have been increasingly seen as ways of boosting employee engagement.

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Deloitte is one of the companies making waves in this area. Their Deloitte Leadership Academy training portal uses the likes of custom achievement badges and progress bars, as well as leaderboards.

On the other hand, Target’s real-time cashier interface is another interesting innovation that comes with gamified elements. Immediate scoring and performance feedback are used to make the task of scanning purchases into something more satisfying. We can also see companies like Cisco and PricewaterhouseCoopers moving in this direction with gamified processes that turn routine tasks into achievements that can be shared.

Consumer Models As a Blueprint

When companies look to design a more effective workplace engagement system, they don’t need to create everything from scratch. By looking at the digital consumer landscape, they can see a proven blueprint for user participation in various sectors. With YouTube named the most influential single brand in the world recently, there’s much room for improvement that small businesses can learn from atop the shoulders of giants.

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Modern websites boast numerous engagement ideas that businesses can learn from in their own continous professional development and team-building programs. Micro-polls, instant reaction loops, and streak mechanics are all worthwhile approaches that can be adapted seamlessly to the corporate team-building environment.

By focusing on a certain type of growing segment, business leaders can look more closely at the dynamics driving it. Looking at daily fantasy sports contests as one example, this PrizePicks promo for new users shows a bonus for new users with clearly laid-out rules. Players can use their bonus on the sports that they’re most interested in, such as baseball, ice hockey, and golf. Everything is designed for a fast start and maximum flexiblity, which is also the right move for business tools.

Other sectors provide different lessons. From the interactive charts on cryptocurrency exchanges to the dynamic indicators on retail sites, there are many ways of presenting information that fit neatly into the requirements for corporate team building and engagement.

The era of office days out may be almost over, but this encroaching new wave of ideas should ensure that there are still enjoyable ways of connecting with colleagues and progressing through the corporate structure while having fun.

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Dauch Corporation (DCH) Presents at J.P. Morgan Automotive Conference Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript