Bob Iger and Joshua Kushner Purchase Lakers for a Record $12.5 Billion

Bob Iger, Disney’s long-serving CEO, and Joshua Kushner, a venture capitalist, have acquired the Los Angeles Lakers from Mark Walter’s ownership group. The acquisition price stands at a remarkable $12.5 billion.

New Lakers Ownership

This purchase occurs less than a year after Dodgers owner Mark Walter himself bought the Lakers for a then-record $10 billion. Walter has been involved in a federal investigation concerning his financial dealings, specifically related-party transactions. These are agreements between entities with business or familial connections that demand careful examination due to potential conflicts of interest.

Kushner and Iger’s Vision

Kushner, founder of Thrive Capital and brother to Jared Kushner, along with Iger, expressed their excitement about overseeing the Lakers. They stated, “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.” Their interest in acquiring an NBA team had been known for some time prior to this transaction.

Marked Increase in Franchise Value

Sources with knowledge of the deal confirmed to The Times that this transaction exceeds the previous sale value by $2.5 billion, reflecting the team’s rise in market value. This shift highlights the dynamic landscape of sports franchising, with the Lakers commanding attention as a centerpiece.

L.A.’s iconic NBA franchise is now being sold to Joshua Kushner and Bob Iger for $12.5 billion.

Angel City FC’s New Investment

In a related development, Bob Iger and Willow Bay, his spouse and the dean of USC’s Annenberg School, have also secured ownership of Angel City Football Club. This agreement involves a $50 million investment aimed at expanding the women’s soccer club’s budget. Their involvement underlines a commitment to enhancing the club’s financial and competitive stature.