Bob Iger and Joshua Kushner to Acquire Lakers in Historic Deal

Bob Iger, former chief executive of Disney, and venture capitalist Joshua Kushner have agreed to acquire the Los Angeles Lakers for a record-setting $12.5 billion. This marks the second ownership change for the franchise in under two years.

Iger and Kushner plan to purchase the team from Mark Walter’s group. Walter, who acquired the Lakers last year for $10 billion, decided to sell amid a federal investigation into his financial activities related to the Dodgers.

The Historic Sale

Walter initially bought the Lakers after they had been controlled by the Buss family for decades. Jeanie Buss, who acted as the team governor, managed the team after her father, Jerry Buss, passed away in 2013, transferring control to a family trust.

This recent sale sees the franchise valued $2.5 billion higher than when Walter acquired it. Iger and Kushner have been vocal about their enthusiasm, stating they feel honored to manage one of the world’s most iconic sports teams.

Walter’s Continuing Influence

Despite selling the Lakers, sources confirm that Mark Walter does not intend to sell the Dodgers. Reports indicate that the federal probe into his financial conduct might stem from related-party transactions requiring additional scrutiny.

Expanding Interests

In addition to buying the Lakers, Iger and his wife, Willow Bay, have invested in the Angel City Football Club. They plan to provide $50 million in funding to bolster the women’s soccer team’s operations, pending league approval.