Bob Iger and Joshua Kushner Acquire Los Angeles Lakers

Bob Iger, long-time chief executive officer of Disney, and Joshua Kushner, founder of Thrive Capital, are purchasing the Los Angeles Lakers from Mark Walter’s ownership group. The transaction, valued at $12.5 billion, sets a record in the sports industry. This acquisition follows less than a year after Mark Walter bought the team for $10 billion from the Buss family.

The New Ownership

Iger and Kushner expressed their excitement about taking over the iconic NBA team. They highlighted their lifelong passion for basketball and their honor at becoming stewards of such a renowned franchise. Their statement to ESPN reflects this enthusiasm.

Federal Investigation

Mark Walter’s financial affairs are currently under federal investigation. The focus appears to be on related-party transactions. These dealings involve companies or individuals with mutual connections, including loans and sales. While such transactions can have legitimate purposes, they often demand close examination due to potential conflicts of interest.

Angel City FC Acquisition

In a related development, Bob Iger and his spouse, Willow Bay, are set to become controlling owners of Angel City Football Club. They have agreed to inject $50 million to bolster the club’s budget as part of their entry. Approval from the National Women’s Soccer League is pending.

Willow Bay, the dean of USC’s Annenberg School for Communication and Journalism, has highlighted the importance of this deal as a ‘culture-defining moment.’ With Iger’s association, the women’s soccer team is poised for growth both financially and competitively.