Josh Kushner must divest his 5% stake in the Miami Heat before acquiring the Los Angeles Lakers, as reported by The Athletic. He plans to become the controlling owner of the Lakers using his own funds for the purchase. NBA regulations limit institutional ownership to 20% and total investor ownership to 30%. There is currently no timeline for the approval of Kushner and Bob Iger’s transaction by the league governors.
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Josh Kushner Must Sell Heat Stake to Buy Lakers
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