Hollywood Meets Wall Street as Josh Kushner, Bob Iger Buy Lakers in Record-Setting Deal

In a stunning deal that shatters every previous valuation benchmark for professional sports franchises, venture capitalist Joshua Kushner and former Disney boss Bob Iger have agreed to purchase the Los Angeles Lakers for $12.5 billion.The record-breaking transaction first reported by ESPN comes just 14 months after billionaire Mark Walter bought a controlling interest in the franchise from the Buss family at a then-record $10 billion valuation. The rapid flip and stunning price tag underscores the relentless surge in the price tags for premium North American sports assets.Mr. Kusher, 41, founded venture capital firm Thrive Capital and is the co-founder and vice chairman of Oscar Health. He is also the brother of President Trump’s son-in-law Jared Kushner. Thrive Capital recently teamed with FIFA president Gianni Infantino on a plan to form a private equity partnership that would run commercial aspects of the World Cup. But that plan had to be scrapped after being overwhelmingly rejected by FIFA’s membership.The deal to purchase the Lakers, one of the most iconic sports franchises in the world, will meet virtually no opposition.In a joint statement, Messrs. Kusher and Iger expressed reverence for the franchise’s deep roots and importance in Southern California. The Lakers have won 12 championships in Los Angeles after winning five titles as the Minneapolis Lakers. “As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” the statement said. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”The sale remains subject to approval by the NBA’s Board of Governors, which is slated to meet next month in New York. Approval by a three-fourths vote of team governors is expected to proceed smoothly over the coming weeks.Mr. Walter, 66, is the CEO of holding company TWG Global and the majority owner of the Los Angeles Dodgers. He purchased control of the Lakers last year and turned a $2.5 billion profit in 14 months.“Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Mr. Walter said in a statement. “I am grateful to Jeanie Buss, the Buss family, the players and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”The sale comes amid mounting regulatory scrutiny surrounding some of Mr. Walter’s insurance businesses. Federal prosecutors in the Southern District of New York and the Securities and Exchange Commission are actively examining whether Delaware Life Insurance Co. and Clear Spring Life, entities controlled by Mr. Walter, failed to properly disclose private credit holdings backing other ventures controlled by Mr. Walter following an internal whistleblower complaint.Mr. Walter has extensive sports holdings, including stakes in the Dodgers, back-to-back- world champions, Chelsea FC, Cadillac Formula 1, and the Professional Women’s Hockey League.Joshua Kushner, 41, previously held a minority stake in the Miami Heat of the NBA and was exploring an NBA franchise in Las Vegas before securing the Lakers deal. Mr. Iger, 75, stepped down from the helm as Disney CEO earlier this year and recently acquired a controlling stake in the Angel FC of the National Women’s Soccer League.The purchase of the Lakers is the latest in several recent prominent ownership transactions in professional sports. In addition to the Lakers being sold twice within two years, the NFL’s Seattle Seahawks were bought for $9.61 billion this year. The Boston Celtics of the NBA sold for $6.1 billion in 2025, while the Washington Commanders of the NFL sold for $6 billion in 2023.

Hollywood Meets Wall Street as Josh Kushner, Bob Iger Buy Lakers in Record-Setting Deal

Hollywood Meets Wall Street as Josh Kushner, Bob Iger Buy Lakers in Record-Setting Deal

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