In a monumental transaction that sent ripples through the sports and business worlds, the iconic Los Angeles Lakers are changing hands. A formidable ownership group spearheaded by prominent businessmen Josh Kushner and Bob Iger officially confirmed their acquisition of the storied franchise to NBC News on a recent Wednesday. This landmark deal, valuing the Lakers at an astounding $12.5 billion, marks a significant shift in the landscape of professional basketball ownership.
Kushner and Iger expressed profound honor at the prospect of guiding such a legendary institution. In a joint statement, they conveyed their deep respect for the legacy built by Jerry and Jeanie Buss, emphasizing their long-term dedication to upholding the franchise’s esteemed foundation. Their commitment extends to ensuring the Lakers consistently compete at the highest echelons of the NBA, serving both the extraordinary team itself, its devoted fanbase, and the vibrant city of Los Angeles. The initial report of this high-profile sale was brought to light by ESPN, stirring considerable excitement and discussion across sports media.
This sale follows a previous transfer of ownership to businessman Mark Walter in October, at an estimated valuation of $10 billion. Walter reflected on his tenure with the Lakers as one of the most distinguished honors of his life. He highlighted the extraordinary investment it represented but underscored that his lasting memories would be of the profound connection with the community, the loyal fans, and a city that embraces the team with familial affection. Expressing gratitude to Jeanie Buss, the entire Buss family, the players, and the staff for welcoming him into this chapter, Walter affirmed his belief that the Lakers truly belong to Los Angeles and that an even brighter future lies ahead for the franchise.
The Lakers stand as one of the most revered sports franchises globally, boasting an impressive 17 championships, with their most recent triumph occurring in 2020. Despite their illustrious history, the previous season saw them finish fourth in the Western Conference before being eliminated by the Oklahoma City Thunder in the semifinals. A significant shift in the team’s dynamics recently occurred with the departure of superstar LeBron James, the NBA’s all-time leading scorer, who, after eight seasons with the Lakers, announced in July his decision to join the Philadelphia 76ers on a two-year, $8 million contract. The team will now look to six-time All-Star Luka Dončić, who led the league with an impressive 33.5 points per game last season, to lead them forward.
Josh Kushner brings a diverse portfolio of business ventures to his new role. He is the founder of Thrive Capital, a highly successful venture capital firm, and a co-founder of Oscar Health. His existing ties to the NBA include a minority ownership stake in the Miami Heat. Interestingly, FIFA had previously sought to sell a minority stake in the World Cup to Thrive Capital, a plan that was ultimately scuttled amidst considerable global opposition from influential soccer leaders across Europe, North America, and Asia. Kushner is also known as the younger brother of Jared Kushner, who served as President Donald Trump’s son-in-law.
Bob Iger, a titan in the American media industry, has an extensive and distinguished career, most notably serving as the CEO of The Walt Disney Co. from 2005 to 2020 and again from 2022 to 2026. Beyond his new investment in the Lakers, Iger, alongside his wife Willow Bay, holds a controlling interest in Angel City FC, a National Women’s Soccer League franchise based in Los Angeles. Their controlling stake in Angel City FC was acquired in 2024 at a valuation of $250 million, further solidifying their presence in the Los Angeles sports scene.
Meanwhile, Mark Walter, the outgoing Lakers co-owner, is the CEO of Guggenheim Partners, a global investment and advisory firm, and also serves as CEO and co-chairman of TWG Global, a holding company. His extensive sports ownership includes a majority stake in MLB’s Los Angeles Dodgers and the WNBA’s Los Angeles Sparks. It is worth noting that Walter and Guggenheim Partners are currently under investigation by the U.S. Attorney’s Office in Manhattan and the Securities and Exchange Commission concerning allegations of insurance fraud, according to multiple reports. This evolving situation adds another layer of intrigue to the broader financial dealings surrounding these high-profile figures in the sports and business realms. For more breaking news on these developments, readers can follow our Google News category.
