Bob Iger and Joshua Kushner to Acquire Los Angeles Lakers

Bob Iger, the long-serving CEO of Disney, and Joshua Kushner, a venture capitalist and sibling of Jared Kushner, are set to purchase the Los Angeles Lakers. The acquisition will be made for $12.5 billion from Mark Walter’s ownership group.

This landmark deal surfaces less than a year after Mark Walter bought the team. Walter acquired the Lakers at a record price of $10 billion. Presently, he is caught in a federal investigation concerning his financial operations, focusing on related-party transactions. These transactions raise potential conflicts of interest, warranting additional investigation.

Kushner founded Thrive Capital, a venture capital firm, while Iger has been a prominent figure at Disney. Both expressed their excitement at the acquisition, describing it as an honor given the Lakers’ iconic status.

The sale price is $2.5 billion higher than what Walter initially paid to take the team from the Buss family. The deal awaits only final confirmations.

In a related development, Iger and Willow Bay, his wife, have invested in Angel City Football Club. They plan to infuse $50 million to bolster the club’s budget and mitigate losses. Their involvement will reshape the ownership structure, subject to the league’s approval.