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

In a significant move, Bob Iger and Joshua Kushner are purchasing the Los Angeles Lakers for $12.5 billion. This transaction comes shortly after Mark Walter acquired the team for $10 billion. The new sale price exceeds the previous by $2.5 billion, reflecting the team’s growing value.

The deal involves Bob Iger, known for his tenure as Disney’s CEO, and Joshua Kushner, founder of Thrive Capital. Both bring extensive business experience and a passion for sports. Iger’s history with Southern California sports includes owning a controlling stake in Angel City FC, emphasizing his commitment to local franchises.

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 stated to ESPN.

Background on Previous Ownership

One year ago, Mark Walter bought the Lakers from the Buss family, who controlled the franchise for decades. Under their ownership, the Lakers became a global sports brand. Jeanie Buss will remain the team’s governor for five years following the sale to Iger and Kushner.

Federal Investigation into Mark Walter

During his ownership, Walter faced scrutiny due to an investigation into his financial affairs. Authorities are examining related-party transactions within Walter’s business empire, including loans not properly disclosed. A spokesperson stated that Walter and his company acted in good faith and are cooperating with the investigation.

Lakers Under New Ownership

Magic Johnson, a former Lakers player and team ambassador, expressed enthusiasm for Iger and Kushner’s purchase. They love basketball, and I think they’ll take us in the right direction, said Johnson.

Lakers star Luka Doncic shared his excitement about the change, noting his eagerness to meet Iger and Kushner. He emphasized his commitment to bringing more championships to Los Angeles.

Joshua Kushner’s Growing Influence in Sports

Joshua Kushner, having invested in NBA, WNBA, and MLB teams, continues to expand his sports portfolio. Thrive Capital, his venture firm, recently entered sports by acquiring a stake in the San Francisco Giants.

Kushner’s acquisition of the Lakers aligns with his long-term investment strategy through Thrive Eternal. Despite the collapse of a plan to secure FIFA World Cup rights, Kushner remains focused on owning iconic sports teams.

Implications for the Lakers

The Lakers are set for their second ownership change in less than two years, shifting from a family-managed team to new visionary leaders. With Jeanie Buss still in a pivotal role, the team’s heritage and future ambitions remain aligned.

The transaction awaits the NBA’s formal approval as the basketball world anticipates the perspectives Iger and Kushner will bring to the Lakers.