Bob Iger, Joshua Kushner to buy Lakers from Mark Walter’s ownership group for $12.5 billion
Former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner are acquiring the Los Angeles Lakers for a record $12.5 billion, according to sources familiar with the deal first reported by ESPN. The purchase requires approval from the NBA’s Board of Governors.
Key Details of the Sale
- Record Valuation: The $12.5 billion price tag tops Forbes' recent $10 billion valuation, which ranked the Lakers as the world's fifth-most valuable sports franchise.
- Transition of Power: The pair buys out billionaire Mark Walter (owner of the LA Dodgers), who acquired a controlling interest from the Buss family just last year. Walter is currently facing a federal SEC and DOJ investigation regarding $16 billion in private credit deals.
- A New On-Court Era: The transaction comes as the franchise pivots its roster, building around NBA All-Star Luka Dončić following LeBron James' free-agency departure to Philadelphia.
The New Owners' Sports Portfolios
- Bob Iger: Along with his wife, Willow Bay, Iger holds a controlling interest in the NWSL's Angel City FC.
- Josh Kushner: Holds a minority stake in the Miami Heat (formerly held a stake in the Memphis Grizzlies). Kushner’s VC firm, Thrive Capital, recently drew scrutiny over a controversial $20 billion investment proposal with FIFA.
In a joint statement, Iger and Kushner expressed deep honor in becoming stewards of the historic franchise, committing to honor the legacy of Jerry and Jeanie Buss while keeping the team competitive at the highest level.