Lakers Ownership Change: Iger and Kushner Purchase

Bob Iger, the former CEO of Disney, and venture capitalist Joshua Kushner have agreed to buy the Los Angeles Lakers for $12.5 billion. This transaction marks a significant moment for the iconic NBA franchise. The news comes shortly after Dodgers owner Mark Walter had purchased the Lakers for a record-breaking $10 billion only a year ago.

Details of the Transaction

The purchase price is $2.5 billion more than what Walter paid when buying the team from the Buss family. Currently, Mark Walter is dealing with a federal investigation concerning his financial dealings, including related-party transactions that have drawn scrutiny.

Statements from Key Figures

“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 expressed their enthusiasm for this acquisition. They aim to uphold the legacy left by Jerry and Jeanie Buss.

Mark Walter shared his reflections, emphasizing the honor of owning the Lakers and his appreciation for the team, city, and fans.

Lakers star Luka Doncic is positive about the change, stating, Being a Laker means everything to me, and I’m excited to bring a championship to LA.

Magic Johnson, who has a long-standing relationship with both the city and the team, voiced his support for Iger and Kushner. He praised their love for basketball and ambition to win.

Background on Joshua Kushner

Joshua Kushner owns a minority stake in the Miami Heat and previously in the Memphis Grizzlies. He founded Thrive Capital, which looks to take long-term stakes in cultural institutions. His investment in the Lakers aligns with his strategy to hold iconic franchises.

Magic Johnson’s Support

Magic Johnson views the deal positively. He pointed out Iger’s deep ties to the community and described him as someone very familiar with the Lakers and Los Angeles. Johnson is optimistic about the future under the new ownership.

Recent Ownership Activity

This sale represents the second ownership transition for the Lakers in less than a year. The Buss family had controlled the team for over four decades. With Jeanie Buss set to remain as the team’s governor for at least five years, the legacy of the family continues despite the change.

Bob Iger’s Other Investments

Bob Iger and his wife, Willow Bay, recently expanded their influence in sports by joining Angel City FC as controlling owners. They plan to invest significantly in the women’s soccer club, marking another important step in their sports ventures.