Bob Iger and Joshua Kushner's Firm Acquires Los Angeles Lakers in Surprise Deal
The Los Angeles Lakers are being sold to a group led by Bob Iger and Joshua Kushner's investment firm. The surprise deal raises questions about the future of current owner Mark Walter's business empire. The transaction marks a major shift in ownership of the iconic NBA franchise.
Iger joined Thrive Capital in April after stepping down as Disney CEO, marking his second association with the firm. He previously served as a venture partner in 2022 and acquired a small stake in 2023. Thrive recently withdrew from a proposed FIFA commercial venture following public backlash.
Walter purchased the Lakers in October at a $10 billion valuation, also controlling the Dodgers and Chelsea. However, his Guggenheim Investments is currently under investigation by federal authorities regarding $16 billion in loans, potentially explaining the rapid ownership change. Iger and his wife already own Angel City FC.
This sale could reshape the cultural and economic landscape of Los Angeles sports, as the Lakers are a civic institution. Fans may see shifts in team management and spending priorities under new private-equity-backed ownership. The rapid turnover also signals that major sports franchises are increasingly viewed as volatile financial assets, potentially affecting how cities and communities engage with their teams. Iger's celebrity status might bring renewed media attention, but the ongoing federal scrutiny of the previous owner could cast a shadow over the transition.