Former Disney CEO Bob Iger and Josh Kushner Purchase L.A. Lakers for $12.5 Billion
Bob Iger, former CEO of Disney, along with Josh Kushner's Thrive Capital, has acquired the Los Angeles Lakers NBA franchise for $12.5 billion. The deal fulfills a lifelong dream for Iger, who expressed deep honor in becoming a steward of the team. The purchase marks a major post-Disney investment for Iger.
The transaction values the Lakers at $12.5 billion, surpassing the previous U.S. sports record set by Mark Walter's acquisition just over a year ago. Iger and Kushner are purchasing Walter's controlling 80% interest in the franchise.
For Iger, this acquisition represents the realization of a long-standing personal ambition and his most significant investment since stepping down from Disney's top role. The partnership with Thrive Capital marks a notable shift for the former media executive into major sports ownership.
This record-setting sale could reshape the economics of professional sports, potentially influencing how other franchises are valued and negotiated. Fans may see changes in team management and marketing strategies given Iger's entertainment background. The involvement of a major investment firm like Thrive Capital might also signal a broader trend of institutional investors entering sports ownership, which could affect ticket pricing, local community engagement, and the overall fan experience in Los Angeles.