Lakers Record Sale
Bob Iger and Joshua Kushner Acquire Los Angeles Lakers for Record $12.5 Billion
Bob Iger and Joshua Kushner have agreed to buy the Los Angeles Lakers for $12.5 billion — the highest price ever paid for a sports team in history. Fresno Bee reported the deal came together in a matter of days, stunning the sports business world.
The sale comes as current owner Mark Walter faces a federal investigation into his business dealings. Walter made the decision to sell quickly, and Iger and Kushner jumped at the chance. The deal still needs approval from the NBA Board of Governors before it is final. Star-Telegram reported that Iger called the Lakers "the epitome of an eternal asset."
Mark Walter's Shocking Decision to Walk Away
Mark Walter had been a key figure in Lakers ownership for years. But his business empire is now under federal investigation. Island Packet reported the pressure from that investigation played a major role in his decision to sell. Walter moved fast — the deal was wrapped up in just days, not weeks or months.
The $12.5 billion price tag broke every record in sports. No team in any league has ever sold for that much. Mod Bee noted the deal was finalized without a long, drawn-out process — a sign of how motivated Walter was to move on and how eager the buyers were to close.
Who Are Iger and Kushner, the New Lakers Owners
Bob Iger is the former CEO of Disney, one of the most powerful media executives in the world. Joshua Kushner founded Thrive Capital in 2009 and has a net worth estimated at over $5 billion. Kentucky reported that together, they form one of the most high-profile ownership groups the NBA has ever seen.
Kushner's Thrive Capital is known for major tech investments. Iger brings deep ties to entertainment and media. Both men had been eyeing NBA ownership for some time. Bradenton reported that Iger was also involved in pushing for a potential NBA expansion team in Las Vegas through a group called Thrive Eternal.
Why the Lakers Command a Record-Breaking $12.5 Billion
The Lakers are one of the most recognized sports brands on the planet. They have won 17 NBA championships. Their global fan base spans dozens of countries. Iger said the team is "the epitome of an eternal asset" — meaning he sees it as something that will only grow in value over time. Tri-City Herald noted no other team carries the same combination of history, market size, and global appeal.
For comparison, the previous record for a sports team sale was well below $12.5 billion. The Lakers play in Los Angeles, the second-largest city in the United States. Their media rights, merchandise, and arena deals make the team a financial powerhouse far beyond just wins and losses on the court.
NBA Approval Still Needed Before Deal Is Done
The sale is not fully complete yet. The NBA Board of Governors must review and approve it. Idaho Statesman reported that this step is standard for any ownership change in the league. The board looks at the financial background and character of new owners before giving the green light.
There is no public timeline yet for when the vote will happen. But given the profile of Iger and Kushner, most observers expect the approval process to move smoothly. Once approved, the two men will take control of one of the most valuable sports franchises in the world.
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