Bob Iger and Joshua Kushner Purchase Lakers for $12.5 Billion

Bob Iger and Joshua Kushner have agreed to buy the Los Angeles Lakers from Mark Walter’s ownership group for $12.5 billion. This deal occurs less than a year after Walter purchased the team from the Buss family for $10 billion. The sale price is $2.5 billion higher than last year’s transaction.

The NBA’s approval of the sale marks the second ownership change for the Lakers in under two years. The Buss family, who ran the Lakers for more than four decades, built the team into a prominent sports brand with a record-setting valuation.

Federal Probe and Financial Transactions

The federal investigation into Dodgers owner Mark Walter is reportedly focusing on related-party transactions. These transactions can involve loans and sales between interconnected entities and require careful oversight to avoid conflicts of interest. Authorities are looking into whether Walter’s actions complied with regulations.

Lakers’ New Owners

Bob Iger, a lifelong NBA fan and former Disney CEO, has pursued owning a major sports franchise for years. His previous ownership experience includes Angel City FC, a professional soccer team. Joshua Kushner, who holds stakes in various sports teams, is also actively involved in business ventures, including Thrive Capital.

Both Iger and Kushner have expressed their commitment to maintaining the Lakers’ legacy and pursuing championships. Their acquisition of the Lakers comes amid their previous efforts to secure an NBA expansion team.

Reaction from Key Figures

Magic Johnson, a former Lakers player and current minority owner, supports the sale. He praised the new owners for their basketball passion and commitment to winning. Current team governor Jeanie Buss will continue in her role for at least five years following the transaction.

Lakers star Luka Doncic is positive about the ownership change, emphasizing the team’s potential and his eagerness to work with Iger and Kushner.

Mark Walter’s Perspective

Despite selling the Lakers, Mark Walter has no plans to divest the Dodgers. Walter described his time owning the Lakers as an honor and expressed confidence in the team’s future under its new owners.