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

Bob Iger, the long-serving chief executive of Disney, along with venture capitalist Joshua Kushner, has agreed to purchase the Los Angeles Lakers. This deal comes at a sum of $12.5 billion. This marks the second change in ownership for the Lakers in under two years.

Mark Walter, the current owner of the Dodgers and former majority stakeholder of the Lakers, sold the franchise to Iger and Kushner. This sale surpasses the $10 billion purchase price Walter paid less than a year ago when acquiring the team from the Buss family.

The Dodgers’ controlling owner, Mark Walter, is involved in a federal investigation focusing on financial transactions, particularly related-party transactions. These are dealings between entities with personal or business relationships that can lead to conflicts of interest despite having legitimate purposes.

Kushner, founder of Thrive Capital and brother to Jared Kushner, and Iger, indicated their enthusiastic gratitude to become caretakers of the Lakers. Their statement emphasized their lifelong passion for the NBA and the iconic status of the Lakers.

Jeanie Buss has been a key figure representing the Lakers as team governor since 2013, following the passing of her father, Jerry Buss. The Buss family had maintained ownership of the team since 1979. Despite the sale, Jeanie Buss will retain her role for at least five more years post-transaction.

In a related move, Bob Iger and his wife Willow Bay are expanding their involvement in sports ownership by joining the Angel City Football Club (FC). This decision includes a $50 million investment to support the club financially and is subject to approval by the National Women’s Soccer League, as disclosed by the club in a recent announcement.