Former Disney CEO Bob Iger and Joshua Kushner partner to purchase the Lakers for $12 billion
Joshua Kushner, brother of Jared Kushner, is teaming up with former Disney CEO Bob Iger to acquire the Los Angeles Lakers. The transaction is valued at $12 billion. The deal marks a major shift in NBA ownership.
The surprise acquisition comes just one year after Mark Walter secured a controlling stake from the Buss family for $10 billion. Walter's willingness to sell coincides with an ongoing tax fraud investigation concerning two insurance companies he owns.
Both buyers have prior sports ownership experience. Iger holds a majority stake in Angel City FC, while Kushner has minority interests in the Memphis Grizzlies and Miami Heat. Kushner's business portfolio also includes Thrive Capital, which funds A24, and magazine ventures with his wife Karlie Kloss.
This record-breaking sale could reshape NBA ownership dynamics by bringing a high-profile media executive and a politically connected investor into the league's most storied franchise. Fans may see shifts in team management or broadcast strategies, while the broader sports industry could view this as a benchmark for franchise valuations. The involvement of the Kushner family might also draw increased public and regulatory scrutiny to the deal's financial and political dimensions.