Lakers Ownership Change
Former Disney CEO Bob Iger and Josh Kushner acquire Los Angeles Lakers
The Los Angeles Lakers have been sold to businessman Josh Kushner and former Walt Disney CEO Bob Iger for a record-breaking $12.5 billion, according to Yahoo Sports. The two men confirmed the deal in a joint statement, marking one of the largest sports franchise sales in history.
The sale price shatters previous records for NBA team valuations. NBC Los Angeles confirmed the deal was finalized at over $12 billion, with both buyers expressing enthusiasm about the purchase.
A Record-Breaking Deal for an NBA Icon
The $12.5 billion price tag sets a new high for any sports franchise sale, according to Yahoo Sports. The Lakers are one of the most storied franchises in NBA history, with 17 championships. A deal this size shows just how valuable top sports teams have become as business assets.
NBC Los Angeles reported the two buyers released a joint statement confirming the agreement. Neither man disclosed the exact breakdown of ownership stakes. The sale was not made public before the statement was released.
Who Are the New Lakers Owners?
Bob Iger ran Walt Disney for over 15 years. He oversaw blockbuster deals like Disney's purchase of Marvel and Lucasfilm. He returned as Disney CEO in 2022 before stepping away again. He brings deep experience running a massive entertainment empire.
Josh Kushner is a venture capital investor and founder of Thrive Capital. He is also the brother of Jared Kushner, former President Trump's son-in-law. Good Morning America noted both men are now confirmed as the new owners of one of basketball's most famous teams.
Buss Family Era Comes to a Close
The Lakers have been owned by the Buss family for decades. Jerry Buss bought the team in 1979 for $67.5 million — a fraction of the current sale price. His children, including Jeanie Buss, have run the team since his death in 2013.
The jump from $67.5 million to $12.5 billion shows how dramatically pro sports values have grown. The Lakers' brand, star power, and Los Angeles market make them one of the most attractive assets in all of sports.
What This Means for the NBA's Business Landscape
Sports franchises have become some of the hottest investments in the world. NBA team values have soared in recent years. The Lakers deal at $12.5 billion, reported by Yahoo Sports, is likely to push valuations even higher across the league.
The NBA must still approve any ownership transfer. League approval is a standard step in all team sales. If approved, Iger and Kushner will take control of a team that counts LeBron James among its star players — and his son Bronny James as well.
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