Bob Iger and Joshua Kushner Acquire Los Angeles Lakers

New Owners for the Lakers

Bob Iger, the long-serving chief executive officer of Disney, and venture capitalist Joshua Kushner have agreed to purchase the Los Angeles Lakers. This acquisition from Mark Walter’s ownership group is valued at $12.5 billion.

A Rapid Succession of Ownership

The sale of the Lakers is unfolding just under a year after Mark Walter, also the owner of the Dodgers, acquired the NBA team for $10 billion. Walter is presently involved in a federal investigation concerning the financial practices of his ownership group. The investigation centers on related-party transactions, which, while sometimes legitimate, often require careful examination due to potential conflicts of interest.

A Statement from the Buyers

Kushner, known for founding Thrive Capital, and Iger have expressed their enthusiasm about the purchase. In a public statement, they highlighted their commitment to the Lakers, acknowledging the team’s iconic status in the world of sports.

“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,” the duo stated.

Wider Involvement in Sports by Iger

In addition to the Lakers, Bob Iger and his wife, Willow Bay, dean of USC’s Annenberg School for Communication and Journalism, have agreed to become controlling owners of the Angel City Football Club. The deal includes a commitment to invest $50 million in the women’s soccer team, pending approval from the National Women’s Soccer League.

Bay explained their decision as a pivotal moment for women’s sports, and both she and Iger are optimistic about contributing to the growth of Angel City FC with their investment.