Bob Iger and Joshua Kushner to Acquire the Lakers for $12.5 Billion

Bob Iger, former Disney Chief Executive, and venture capitalist Joshua Kushner have reached an agreement to purchase the Los Angeles Lakers from Mark Walter’s ownership group for $12.5 billion. This deal signifies a milestone in Iger’s longstanding ambition to own a major sports franchise.

Jeanie Buss’s Continued Role

Despite the change in ownership, Jeanie Buss will retain her role as the team’s governor for the next five years. Her family’s influence over the Lakers will persist even as the ownership shifts to Iger and Kushner. This transition follows Mark Walter’s acquisition of the Lakers last year from the Buss family for $10 billion.

Background of the Sale

This high-profile transaction represents the second major change in ownership in less than a year. Walter’s tenure was marked by a federal investigation into his financial dealings, particularly concerning related-party transactions. Although Walter will sell his controlling interest in the Lakers, he does not plan to divest from the Dodgers. It remains unclear why Walter opted to sell the Lakers so soon after purchasing the team.

“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,” Walter told ESPN.

Statements from Key Figures

• Joshua Kushner and Bob Iger expressed their excitement: “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. 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.”
• Lakers minority owner Magic Johnson showed support for the new owners, citing their deep love for basketball and shared ambition to bring championships to the team.

What the Future Holds

Lakers star Luka Doncic voiced enthusiasm about the change. During his offseason, he expressed optimism about the team’s potential under the new ownership.

“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA,” Doncic tweeted.

Both Iger and Kushner come with plans to enhance the team’s capabilities and maintain the Lakers’ prestigious standing. Their approach includes utilizing their business acumen and passion for the sport to bring renewed vigor to the franchise.