PHX
The final details of the transaction were settled during a meeting between Walter and Kushner on Thursday at Walter’s residence in Florida. Sources close to the discussions confirmed that both parties have agreed to all outstanding terms and are expected to execute the formal sale agreement in the near future.
NBA review process and financial backing
Once the formal documentation is signed, the transaction will move into the NBA’s regulatory review phase. This process involves a comprehensive examination of the ownership structure and the financing arrangements behind the purchase. League officials typically require a period of time to conduct this due diligence to ensure compliance with ownership standards.
Addressing potential concerns regarding the capital required for such a substantial acquisition, sources indicated that Kushner has provided assurances to Walter that all necessary funding for the $12.5 billion deal has been secured. The transaction represents the culmination of a process that has been underway for several months, involving Kushner and former Disney CEO Bob Iger, who joined forces to pursue the acquisition of the franchise.