The Los Angeles Lakers have been acquired by businessmen Josh Kushner and Bob Iger in a historic transaction, marking the second change in ownership within a year. The purchase price for the Lakers stands at a record-breaking $12.5 billion US, as reported by an anonymous source familiar with the deal. This acquisition surpasses the team’s previous valuation of $10 billion when Mark Walter acquired a controlling stake from the Buss family in 2021.
Kushner, a venture capitalist, and former Walt Disney Company CEO Iger expressed their gratitude for the opportunity to oversee the iconic Los Angeles Lakers franchise. Their commitment is to uphold the team’s legacy, compete at the highest level, and serve both the fans and the city of Los Angeles. The sale is pending approval from the NBA’s board of governors, with the upcoming board meeting scheduled for September in New York.
The staggering $12.5 billion price tag sets a new benchmark in the escalating values of NBA franchises, surpassing previous high-profile transactions in the sports industry. The decision to sell by Walter, who acquired the Lakers for $10 billion last year, has generated significant interest and speculation among fans. The Lakers, a 17-time NBA championship-winning team, boast a strong roster led by NBA scoring champion Luka Doncic.
Kushner, known for his involvement in sports investments, currently holds a minority stake in the Miami Heat and has previously invested in the Memphis Grizzlies. Meanwhile, Iger, a prominent figure in the entertainment industry, has ventured into sports ownership with the NWSL team Angel City FC. The acquisition of the Lakers adds to Iger’s diverse portfolio, which includes ownership interests in various sports franchises.
The sale of the Los Angeles Lakers to Kushner and Iger signifies a new chapter for the storied franchise, with fans and stakeholders eagerly anticipating the next phase under the new ownership.