Former Walt Disney Firm CEO Bob Iger and businessman Josh Kushner are buying the Los Angeles Lakers for $12.5 billion, according to ESPN.
Iger and Kushner shared a joint assertion confirming the acquisition to the outlet. The sale will nonetheless have to be authorized by the NBA Board of Governors, ESPN famous.
Mark Walter, the CEO of conglomerate TWG International, purchased a majority stake within the crew in 2025.
Walt Disney Firm CEO Bob Iger in Los Angeles, Could 2, 2026 and Josh Kushner in New York, Could 4, 2026.
Getty Photos
Iger wound down his role as CEO of The Walt Disney CEO firm earlier this yr after assuming the function, first for over a decade beginning in 2005 and once more from 2022 to 2026.
Kushner, brother of President Donald Trump’s son-in-law Jared Kushner, is the founding father of Thrive Capital, a enterprise capital agency in New York Metropolis.
Iger, who had joined Thrive Capital as soon as earlier than, re-joined the agency earlier this yr after leaving Disney in March, in response to an April social media post from Kushner.
Joshua Kushner sits with Bob Iger on the 2025 US Open Tennis Championships September 2, 2025 in New York Metropolis.
GC Photos through Getty Photos
“As lifelong NBA followers, we’re deeply honored for the chance to turn into stewards of the Los Angeles Lakers, probably the most iconic sports activities franchises on this planet,” Iger and Kushner wrote within the assertion.
The pair additionally talked about the famed former Lakers proprietor Jerry Buss and his daughter Jeanie Buss, present governor of the crew.
“We’ve got immense respect for the management and imaginative and prescient of Jerry and Jeanie Buss. Our long-term dedication is to construct on that basis, compete on the highest degree, and serve this extraordinary crew, its followers, and town of Los Angeles,” Iger and Kushner said.
The Los Angeles Lakers emblem on the courtroom earlier than the sport in opposition to the Golden State Warriors, October 21, 2025 in Los Angeles.
Luke Hales/Getty Photos
Walter, who additionally owns controlling curiosity within the Los Angeles Dodgers, amongst different groups, mirrored on his time proudly owning the Lakers in his assertion.
“Proudly owning the Los Angeles Lakers has been one of many nice honors of my life — a unprecedented funding, however what I’ll carry with me is the neighborhood, the followers, and a metropolis that treats this crew as household,” he stated.
Walter’s assertion continued, “I’m grateful to Jeanie Buss, the Buss household, the gamers, and the workers for welcoming me into this chapter. The Lakers belong to Los Angeles, and I’ve each confidence one of the best remains to be forward.”
The Lakers will kick off their upcoming season on Oct. 21 in opposition to the Golden State Warriors.
The crew shall be opening a brand new chapter after LeBron James left the team for the Philadelphia 76ers final month.
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