Kushner, Iger Agree to Buy L.A. Lakers for $12 Billion

Real estate heir Joshua Kushner and former Disney CEO Bob Iger have agreed to purchase the Los Angeles Lakers for $12 billion. This acquisition marks a substantial shift for both businessmen, who were previously involved in efforts to establish an NBA team in Las Vegas. ESPN reported that Kushner, aged 41, and Iger, aged 75, have finalized a deal with the team's current owner, Mark Walter. Walter had acquired a controlling stake in the Lakers from the Buss family in 2025. The agreement comes after Kushner's company, Thrive Capital, was reportedly pushing for a majority stake in a Las Vegas team as recently as June, according to Bloomberg.

In a joint statement, Kushner, whose estimated net worth is $5.2 billion, and Iger, believed to be worth around $700 million, expressed their honor at the opportunity to invest in the iconic NBA franchise. They also conveyed deep respect for the legacy of longtime owners Jerry and Jeanie Buss, whose family has maintained a stake in the Lakers since 1979. Kushner and Iger stated to ESPN, "As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss." They further committed to "build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles."

The transaction represents a significant financial commitment, with the $12 billion valuation reportedly exceeding the combined value of their extensive property portfolios by more than 100 times. This deal also occurs during a period of notable transition for the Lakers. Earlier in the summer, the team's most prominent player, LeBron James, announced his departure from the Lakers to join the Philadelphia 76ers. The sale price of $12 billion sets a new benchmark for NBA franchise valuations, highlighting the immense commercial appeal and financial growth within professional basketball. The involvement of Kushner, a prominent figure in real estate and venture capital through Thrive Capital, and Iger, a seasoned media executive with a long tenure at Disney, suggests a strategic approach to managing and potentially expanding the Lakers' brand and operations. The acquisition is subject to customary closing conditions and league approvals.