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

Ownership Change for the Lakers

Bob Iger, the former CEO of Disney, along with venture capitalist Joshua Kushner, has reached an agreement to purchase the Los Angeles Lakers. The deal is valued at a significant $12.5 billion. This marks the second change in ownership for the team in less than two years.

A Record-Breaking Deal

Last year, Mark Walter, owner of the Dodgers, acquired the Lakers for a record-breaking $10 billion. However, he has now sold the team to Iger and Kushner for a $2.5 billion markup.

Federal Investigation Surrounding Mark Walter

The sale comes amidst a federal investigation into Mark Walter’s financial affairs. The investigation reportedly focuses on related-party transactions, which involve businesses with personal or business ties, requiring additional scrutiny due to potential conflicts of interest.

Lakers’ Historic Ownership

The Lakers have a storied history, having been family-owned by the Buss family since Jerry Buss bought the franchise in 1979. The NBA approved Mark Walter’s purchase of the majority stake last year. Despite the recent sale, Jeanie Buss will remain the team’s governor for at least five years post-transaction.

Bob Iger and Joshua Kushner’s Statement

Joshua Kushner and Bob Iger expressed their honor at the opportunity to manage the Lakers, recognizing the team’s iconic status in sports.

Bob Iger’s Involvement in Angel City FC

Separately, Bob Iger and his wife, Willow Bay, acquired control of Angel City Football Club, a women’s soccer team. They plan to invest $50 million to enhance the club’s budget and reduce financial losses. This move highlights Iger’s expanding influence in the sports world.