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Josh Kushner and Bob Iger to Buy Los Angeles Lakers for Record $12.5 Billion
Josh Kushner and Bob Iger to Buy Los Angeles Lakers for Record $12.5 Billion
The Los Angeles Lakers are set for another dramatic change in ownership after businessman Josh Kushner and Bob Iger agreed to lead a group purchasing the NBA franchise for $12.5 billion, according to multiple reports.
The proposed transaction would establish a new record for the sale of a professional sports team and comes less than a year after Mark Walter acquired controlling ownership of the Lakers from the Buss family. ESPN reported that multiple sources confirmed the agreement, while other major outlets also reported the $12.5 billion figure.
The extraordinary valuation underscores the financial power and global appeal of the Lakers, one of the most recognizable franchises in professional sports.
Kushner and Iger had previously been involved in efforts to bring an NBA expansion franchise to Las Vegas. Instead, the pair reportedly pivoted toward an aggressive offer for the Lakers after Walter became the team’s controlling owner.
The deal is expected to require approval from the NBA before it can officially be completed.
Who Are the New Prospective Lakers Owners?
Josh Kushner is a billionaire businessman and investor who founded Thrive Capital. He is also a minority owner of the Miami Heat and has been increasingly involved in professional sports investments.
Kushner is the younger brother of Jared Kushner, who is married to Ivanka Trump. Josh Kushner has built his own business career primarily through venture capital and technology investments, with Thrive Capital becoming one of the most prominent investment firms in the United States.
Bob Iger, meanwhile, is one of the most recognizable executives in the entertainment industry. He served as chief executive of The Walt Disney Company and has been closely associated with some of the world’s largest entertainment properties.
Iger has also been a longtime sports fan and has frequently attended NBA games.
The combination of Kushner’s investment background and Iger’s experience in global entertainment makes the proposed ownership group particularly notable.
A Stunning Turnaround for the Lakers
The proposed sale is remarkable because the Lakers changed hands only recently.
Mark Walter acquired controlling ownership of the franchise from the Buss family in a deal that valued the Lakers at approximately $10 billion. The Buss family retained a minority stake following the transaction.
The new $12.5 billion agreement would therefore represent a substantial increase in the franchise’s valuation in a remarkably short period. Reports indicate that Walter will sell his controlling interest while continuing to own the Los Angeles Dodgers.
The development brings an unexpected end to Walter’s brief period as the Lakers’ controlling owner.
Walter’s ownership group had taken over a franchise with one of the strongest brands in global sports. The Lakers’ history, enormous fan base, Los Angeles market and commercial opportunities have made the team one of the most valuable sports properties in the world.
Record-Breaking Sports Sale
If completed at $12.5 billion, the transaction would become the most expensive sale of a professional sports franchise ever reported.
The figure would surpass Walter’s previous Lakers purchase and further demonstrate how dramatically valuations for elite sports franchises have increased.
The Lakers’ value is supported not only by their basketball success but also by their worldwide brand.
The franchise has won numerous NBA championships and has been home to legendary players including Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant and Shaquille O’Neal.
The team’s association with Los Angeles has also provided enormous commercial opportunities through television, sponsorships, merchandise and international marketing.
Lakers Enter Another New Era
The ownership development comes during an important transition on the basketball side as well.
The Lakers are moving into a new era following major changes to their roster and the end of LeBron James’ time with the franchise. Luka Doncic has become the centerpiece of the team’s future after his acquisition from the Dallas Mavericks.
The combination of a new ownership group and a changing roster could therefore create a completely different chapter in Lakers history.
Iger and Kushner have reportedly expressed their admiration for the franchise and their intention to respect its history while helping build on its success. (Variety)
For Lakers supporters, the biggest question will be what the ownership change means for the team’s basketball operations.
An ownership transition does not necessarily mean immediate changes to the front office or coaching staff. Those decisions will depend on the structure of the new ownership group and the NBA’s approval process.
What Happens Next?
The $12.5 billion transaction still has to go through the necessary approval procedures before the ownership transfer becomes official.
Until then, Walter remains the controlling owner, while Kushner and Iger prepare to take over the franchise if the deal receives the required approvals.
The proposed sale nevertheless represents a stunning development in the NBA.
The Josh Kushner and Bob Iger Lakers deal would make the Lakers the most expensive professional sports franchise ever sold and place the iconic Los Angeles team under the leadership of two high-profile businessmen with backgrounds spanning technology investment and global entertainment.
For the Lakers, it marks another major ownership transition in less than a year.
For the sports industry, it provides yet another indication of how valuable the world’s biggest teams have become.
And for NBA fans, the biggest question now is what Kushner and Iger will do with one of basketball’s most famous franchises once the record-breaking deal is officially approved.
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