Bob Iger and Joshua Kushner Purchase Lakers for $12.5 Billion

Less than a year after purchasing the Lakers, Dodgers owner Mark Walter has agreed to sell the iconic NBA franchise to Bob Iger and Joshua Kushner for $12.5 billion. This transaction marks a $2.5 billion increase from when Walter acquired the team in October from the Buss family, according to sources not authorized to speak publicly.

Federal Investigation into Mark Walter

Mark Walter, who owns the Dodgers, is currently under a federal investigation regarding his financial activities. The probe focuses on related-party transactions, which are business deals between entities with personal or business connections. These often require extra scrutiny due to potential conflicts of interest.

Walter’s business affairs, including his transactions, are being examined by the U.S. Attorney’s Office and securities regulators. This investigation involves loans by insurers tied to Walter’s companies.

Lakers Still in Limelight

The sale of the Lakers does not affect Walter’s ownership of the Dodgers. As reported by familiar sources, Walter has no plans to sell the baseball team.

Bob Iger’s Entry into Sports Ownership

Bob Iger, a former Disney CEO and lifelong NBA fan, has often attended Lakers and Clippers games. His acquisition of the Lakers follows a prior investment in Angel City FC, a women’s soccer team. Iger and his wife, Willow Bay, purchased a controlling stake in Angel City for $50 million.

Joshua Kushner, the new co-owner, brings with him a history of investments in various sports teams, including NBA, WNBA, and MLB. His company, Thrive Capital, has invested in numerous sports and technology enterprises.

Merging Business Acumen with Passion for Sports

Lakers legend Magic Johnson expressed his support for Iger and Kushner, highlighting their love for basketball and commitment to winning. Johnson believes the new ownership will bolster the Lakers’ potential to achieve future success.

Implications for the Buss Family

Jeanie Buss will remain as the team’s governor for at least five years, maintaining the Buss family’s long-standing connection with the Lakers. The franchise, one of the most recognized sports brands globally, has seen significant ownership changes in recent years.

Reaction from Lakers and NBA Community

Both Iger and Kushner conveyed their excitement about taking on stewardship of the Lakers. Mark Walter and Lakers star player Luka Doncic also shared optimistic views on the team’s future under new ownership.