Bob Iger and Joshua Kushner Purchase Lakers for $12.5 Billion

Bob Iger, the longtime chief executive of Disney, and Joshua Kushner, a venture capitalist, have agreed to buy the Los Angeles Lakers for $12.5 billion. This acquisition comes less than a year after Dodgers owner Mark Walter purchased the Lakers for $10 billion. While Walter unloads the Lakers, he reportedly has no plans to sell the Dodgers.

Both Iger and Kushner expressed their enthusiasm for becoming stewards of such an iconic sports franchise. Despite the change in ownership, Jeanie Buss will remain the team governor for at least five years, continuing her family’s legacy with the Lakers.

The sale marks the fulfillment of Iger’s long-term ambition to own a major sports franchise. His previous attempts included exploring an NBA expansion franchise.

Mark Walter’s decision to sell the Lakers coincides with a federal investigation into his financial affairs, focusing on related-party transactions.

Magic Johnson, a minority Lakers owner, has voiced his support for the new owners. Johnson praised Iger for his basketball knowledge and passion for the Lakers and expressed his confidence that Iger and Kushner will bring winning resources to the team.

Joshua Kushner, who also owns a minority stake in the Miami Heat, must sell that interest to finalize the Lakers purchase. His firm, Thrive Capital, recently launched Thrive Eternal focused on long-term sports investments.

Lukas Doncic, a Lakers star, welcomed the ownership change, highlighting the potential to build something special in Los Angeles.

This sale represents the second major ownership transfer of the Lakers in two years. The Buss family originally controlled the team since 1979, establishing its status as a global sports icon. Despite the transitions, Jeanie Buss will continue to play a pivotal role in steering the franchise.