Bob Iger and Joshua Kushner Acquire Lakers for $12.5 Billion

Bob Iger, known for his leadership role at Disney, and venture capitalist Joshua Kushner have reached an agreement to purchase the Los Angeles Lakers for $12.5 billion. This acquisition comes shortly after Dodgers owner Mark Walter acquired the Lakers for $10 billion, marking a quick turnover in ownership.

Background on the Sale

The sale of the Lakers by Mark Walter comes amidst a federal investigation into his financial dealings, particularly focusing on related-party transactions involving companies tied to him. Despite selling the Lakers, sources indicate that Walter has no intention of selling the Dodgers.

Bob Iger’s Previous Ownership Experience

Bob Iger’s acquisition of the Lakers is not his first venture into sports franchise ownership. In 2024, he and his wife, Willow Bay, acquired a controlling stake in Angel City FC for $50 million. This experience may give insight into how he will manage the Lakers.

Joshua Kushner’s Sports Background

Joshua Kushner, a lifelong Democrat with a passion for sports, has established himself as a formidable businessman. Before this acquisition, Kushner owned minority stakes in the Miami Heat and Memphis Grizzlies. His venture capital firm, Thrive Capital, continues to invest in significant cultural and sports entities.

Lakers’ Upcoming Season and Tournament

The Lakers are set to begin the NBA Cup play against the Golden State Warriors on October 30. Additionally, the Lakers will look forward to the NBA Cup championship game set for December 11 in Indianapolis.

Impact on Lakers’ Governance and Legacy

Jeanie Buss will continue as the Lakers’ governor for at least five years. Her ongoing involvement ensures continuity of the Buss family’s legacy while bringing in new leadership under Iger and Kushner.

Reactions from Key Players

Magic Johnson expressed strong support for the new ownership, citing Bob Iger’s dedication to basketball and the Lakers. He emphasized the potential for Iger and Kushner to bring new energy to the franchise.

Lakers star Luka Doncic echoed excitement about the ownership change, highlighting his commitment to building success with the new owners.

Conclusion

The sale is an interesting milestone in Laker history. While the reasons behind Mark Walter’s decision to sell remain partially unclear, the focus will now be on how Bob Iger and Joshua Kushner will shape the future of this iconic NBA team.