Bob Iger and Joshua Kushner Agree to Purchase the Los Angeles Lakers for $12.5 Billion

Bob Iger, Disney’s former chief executive, alongside venture capitalist Joshua Kushner, has agreed to purchase the Los Angeles Lakers. The acquisition is set at $12.5 billion, making it a landmark transaction.

The purchase comes barely a year after Mark Walter, owner of the Dodgers, bought the Lakers for $10 billion. Walter’s rapid resale follows a federal investigation into his financial dealings. These include related-party transactions which may raise conflicts of interest.

Iger and Kushner, lifelong NBA fans, expressed excitement over their new role as stewards of the iconic basketball franchise. They aim to build on the Buss family’s legacy, maintaining the team’s high standards and commitment to fans and the city of Los Angeles.

Key Figures Involved:

• Mark Walter: Exiting Lakers ownership, retains interest in the Dodgers. No plans to sell the baseball team.
• Jeanie Buss: Will remain as the Lakers’ governor for at least five more years under the new ownership.
• Magic Johnson: Voiced strong support for Iger and Kushner. He believes their passion for basketball and strategic vision will benefit the Lakers.
• Luka Doncic: Lakers star player, optimistic about meeting the new owners and enthusiastic about the team’s future prospects.

Bob Iger’s acquisition of the Lakers aligns with his longstanding ambition to own a major sports franchise. His involvement in sports extends to owning controlling interest in Angel City FC with his wife, Willow Bay. The couple recently made a $50 million investment to solidify Angel City FC’s financial foundation.

A pivotal factor driving the sale is Mark Walter’s reported involvement in a financial probe by the U.S. Attorney’s Office. Allegations focus on potentially undisclosed, interconnected financial transactions within his business network.

This latest development marks a significant change for the Lakers, a team that was under the Buss family’s ownership since Dr. Jerry Buss acquired it in 1979. The recent transitions emphasize the evolving landscape of sports franchise ownership.