Bob Iger and Joshua Kushner Acquire Lakers for $12.5 Billion

Bob Iger, Disney’s longtime CEO, and Joshua Kushner, a venture capitalist and brother of Jared Kushner, are acquiring the Los Angeles Lakers. This acquisition, from Mark Walter’s ownership group, is valued at $12.5 billion.

The transaction marks a significant business move shortly after Mark Walter purchased the Lakers for $10 billion, which was also a record-breaking amount at the time. Walter has since been involved in a federal investigation into financial maneuvers related to the Dodgers, particularly focusing on related-party transactions that require additional scrutiny.

“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,” Kushner and Iger said in a statement to ESPN.

Joshua Kushner, well-known as the founder of Thrive Capital, teams up with Bob Iger to take over one of the most recognized NBA franchises globally. This transition reflects rapid changes in ownership since the Lakers’ acquisition by Walter less than a year ago.

The Federal Investigation

Mark Walter, who also owns the Dodgers, is under federal investigation regarding his financial practices. The scrutiny centers on related-party transactions, which involve business deals between entities with personal or business ties. These transactions, while sometimes legitimate, can pose conflicts of interest and require thorough examination.

Iger and Willow Bay’s Angel City FC Involvement

Willow Bay, along with her husband Bob Iger, is also making moves in women’s sports. They have reached an agreement to become controlling owners of Angel City Football Club. This deal includes a $50 million cash contribution to bolster the club’s budget and address financial losses. This move highlights their commitment to supporting women’s sports and contributing to its growth.