Bob Iger, Josh Kushner to purchase LA Lakers for record $12.5 Billion

Former Disney CEO Bob Iger and venture capitalist Josh Kushner have agreed to purchase the Los Angeles Lakers for $12.5 billion, a record valuation for a U.S. professional sports franchise. The deal, first reported by ESPN and subsequently confirmed by multiple outlets, would exceed the $10 billion valuation attached to Mark Walter’s acquisition of a controlling interest in the Lakers from the Buss family last year. The transaction remains subject to NBA approval and completion of due diligence. Kushner and Iger confirmed the news, stating they were “deeply honored for the opportunity,” and adding: “As lifelong NBA fans, we are profoundly honored for the accidental to go stewards of the Los Angeles Lakers, 1 of the astir iconic sports franchises successful the world. We person immense respect for the enactment and imaginativeness of Jerry and Jeanie Buss. Our semipermanent committedness is to physique connected that foundation, vie astatine the highest level, and service this bonzer team, its fans, and the metropolis of Los Angeles.” The agreement marks a dramatic shift in ownership after Walter held control of the franchise for little than a year. Iger, the former chief executive of Walt Disney Co., and Kushner, founder and managing partner of Thrive Capital, had previously been pursuing a possible NBA expansion franchise in Las Vegas. Instead, they turned their focus to the Lakers and made an aggressive bid for Walter’s stake. Their involvement follows Iger’s long‑standing engagement in sports and entertainment, including his stake in Angel City FC, while Kushner has expanded his investment portfolio into sports and other cultural assets. The Buss family’s 46‑year ownership era ended with Walter’s purchase last year, although Jeanie Buss was expected to remain the Lakers’ president for at least five years under the prior arrangement. Iger and Kushner said they intend to honor that agreement and build on the franchise’s history. Lakers legend Magic Johnson also welcomed Iger’s participation, citing the former Disney executive’s longstanding passion for basketball. The Lakers remain one of the NBA’s premier franchises, boasting 17 championships and a global fan base. The team is entering a new phase after LeBron James departed for the Philadelphia 76ers, leaving Luka Dončić as the centerpiece of the roster. The ownership change comes as the organization continues renovations and implements changes to its basketball and front‑office operations. Editorial credit: lev radin / Shutterstock.com