Additional Coverage:
- Bob Iger and Josh Kushner are buying the Lakers for $12.5 billion (businessinsider.com)
Former Disney CEO Bob Iger and venture capitalist Josh Kushner are set to acquire the Los Angeles Lakers in a landmark $12.5 billion deal, sources confirm. This transaction marks a significant development for both figures and for one of the NBA’s most storied franchises.
The Lakers, valued at approximately $10 billion as of last December, were purchased just last year by billionaire Mark Walter, who also owns the MLB’s Los Angeles Dodgers. Walter acquired a controlling interest from the Buss family, who have long been synonymous with the team’s success.
The NBA’s Board of Governors still needs to approve the sale. Iger and Kushner issued a joint statement expressing their enthusiasm: “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.”
Josh Kushner, known for his role as founder of Thrive Capital, has been increasing his footprint in the sports world. His firm was involved in a high-profile $20 billion investment proposal for FIFA, the international soccer governing body. Kushner also holds minority stakes in NBA teams Miami Heat and previously the Memphis Grizzlies.
Bob Iger, who led Disney for over 15 years, is embarking on a new chapter with this acquisition. Alongside his wife, Willow Bay, Iger also holds a controlling interest in Angel City FC, a Los Angeles-based National Women’s Soccer League team.
The Lakers have a rich legacy, from legends like Jerry West and Magic Johnson to Kobe Bryant and LeBron James. With LeBron recently departing for Philadelphia, the franchise is now focusing on building around star player Luka Dončić.
Meanwhile, Mark Walter is reportedly under federal scrutiny concerning private credit transactions involving his companies, an investigation being conducted by the Manhattan U.S. Attorney’s Office and the Securities and Exchange Commission.
This high-profile ownership change underscores the growing intersection of sports, entertainment, and investment, signaling exciting times ahead for the Lakers and their fans.
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- Bob Iger and Josh Kushner are buying the Lakers for $12.5 billion (businessinsider.com)