The Los Angeles Lakers are set to be purchased for the second time within a year, with businessmen Josh Kushner and Bob Iger acquiring the team at a historic price tag. The sale is reported to be valued at $12.5 billion US, as disclosed by a source familiar with the deal. This transaction marks a significant milestone for one of North America’s premier sports franchises.
Initial reports from ESPN indicate that Kushner and Iger will be taking ownership of the NBA’s most valuable team, surpassing last year’s valuation of $10 billion when Mark Walter acquired a controlling stake from the longstanding Buss family ownership dating back to 1979.
In a joint statement, Iger and Kushner expressed their deep appreciation for the opportunity to lead the iconic Los Angeles Lakers franchise, emphasizing their commitment to upholding its legacy, competing at the highest level, and serving both the team and the city of Los Angeles.
Kushner, known as a venture capitalist, and former Walt Disney Company CEO Iger, had previously collaborated on efforts to secure an NBA expansion team for Las Vegas. By acquiring the Lakers, they expedite their involvement in professional basketball without waiting for potential expansion in the 2028-29 season.
The sale of the Lakers is pending approval from the NBA’s board of governors, a process that typically takes several weeks. The $12.5 billion price tag sets a new benchmark for U.S. professional sports and reflects the escalating value of NBA franchises.
The decision by Walter to sell his stake in the Lakers after a brief tenure has generated significant interest among fans. The team, boasting 17 NBA championships and a recent title win in 2020, has consistently made playoff appearances and features star player Luka Doncic, signed through the 2028-29 season.
Kushner, known for his involvement in sports ownership, co-owns a minority share in the Miami Heat and previously held a stake in the Memphis Grizzlies. Iger, a prominent figure in Hollywood, stepped down as Disney CEO last year and has ventured into sports ownership with his ownership of NWSL team Angel City FC.
Walter’s acquisition of the Lakers last year marked a turning point for the franchise, leading to organizational restructuring and enhanced business strategies. The ownership change raises questions about the future involvement of Jeanie Buss, who had been integral to the team’s governance following her father’s passing.
Aside from the Lakers, Walter and his associates have investments in various sports entities, including the Los Angeles Sparks, Chelsea FC, and the Professional Women’s Hockey League, showcasing a diverse sports portfolio.
