MSGS Stock Surges on Report of LA Lakers Sale at $12.5 Billion Valuation

Published Aug 12, 08:49 PM UTC

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Shares of Madison Square Garden Sports (MSGS), the parent company of the New York Knicks, rose sharply on Wednesday following reports that a group led by former Disney CEO Bob Iger and venture capitalist Joshua Kushner plans to acquire a majority stake in the Los Angeles Lakers. The deal reportedly values the NBA franchise at approximately $12.5 billion. The news highlights the soaring valuations of professional sports teams and directly impacted MSGS stock, as investors reacted to the benchmark set by the Lakers' potential sale price. The report was published by Barron's and cited by Yahoo Finance.

Source

Yahoo FinanceWestern

Original headline: MSGS Stock Pops on News of LA Lakers Sale for $12.5 Billion

Original language: EN-US

Part of this Story

Bob Iger and Josh Kushner Buy LA Lakers for Record $12.5 Billion

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Los Angeles Lakers