Josh Kushner and Bob Iger Buy Los Angeles Lakers
Billionaire investor Josh Kushner and former Disney CEO Bob Iger have agreed to purchase the Los Angeles Lakers for approximately $12.5 billion, according to multiple reports, in what would become the most expensive sale of a U.S. professional sports franchise.
The blockbuster agreement would dramatically reshape the ownership of one of the most recognizable teams in professional sports. The deal still requires approval from the NBA’s Board of Governors before it can be completed.
A Record Breaking Sports Deal
The reported $12.5 billion price tag would establish a new benchmark for the value of a U.S. sports franchise. The Lakers were valued at approximately $10 billion when Mark Walter and his ownership group acquired a controlling interest from the Buss family in a deal completed the previous year.
The rapid increase in the Lakers’ reported valuation highlights the enormous financial growth surrounding major professional sports teams. Media rights, sponsorships, ticket sales, merchandise and the global reach of marquee franchises have continued to make ownership of elite sports properties increasingly valuable.
Kushner and Iger Pivot From Las Vegas Expansion
Kushner and Iger had previously been involved in efforts surrounding a potential NBA expansion team in Las Vegas. Instead of pursuing an expansion franchise, the pair reportedly shifted their attention toward acquiring the Lakers when the opportunity emerged.
Kushner is the founder and managing partner of Thrive Capital, while Iger is best known for his longtime leadership of The Walt Disney Company. Iger also has previous experience as a sports investor through his involvement with Angel City FC of the National Women’s Soccer League.
The Lakers Enter Another Ownership Transition
The proposed transaction would mark another major ownership change for the Lakers after the Buss family’s decades long control of the franchise. The Buss family became synonymous with the Lakers following the team’s acquisition by Jerry Buss in 1979 and presided over one of the most successful periods in NBA history.
The Lakers have won 17 NBA championships and remain one of the league’s most commercially powerful franchises. The team has also entered another major period of transition on the basketball side, with Luka Dončić now serving as a central figure in the franchise’s future.
What Happens Next
Despite the reported agreement, the sale is not yet final. The NBA’s Board of Governors must approve the transaction before Kushner and Iger can officially take control of the franchise.
If approved, the $12.5 billion transaction would make the Lakers the most valuable U.S. professional sports franchise based on the reported purchase price. It would also represent a striking increase from the $10 billion valuation associated with the previous change in control just one year earlier.
For the Lakers, the proposed sale represents more than a record financial transaction. It would usher in a new ownership era for one of the most famous teams in sports, with Kushner and Iger preparing to take responsibility for a franchise whose business, basketball and cultural influence extends far beyond Los Angeles.
