By Jill McLaughlin
Contributing Writer
Former Disney CEO Bob Iger and businessman Josh Kushner have agreed to purchase the Los Angeles Lakers for $12.5 billion, the partners confirmed on Wednesday.
The price tag sets a record for the National Basketball Association’s most valuable franchise, which was sold last year to billionaire Mark Walter for $10 billion.
“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,” Kushner and Iger wrote in an emailed statement.
“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 still needs to be approved by the NBA’s board of governors, which can take several weeks. The next meeting is set for September.
Kushner founded Thrive Capital in 2025. The company acquires traditional services businesses, and was valued this week at $12 billion, according to Binance News. Kushner’s older brother, Jared, is a son-in-law and special adviser to President Donald Trump.
Iger, who retired as Disney’s CEO in March, has stayed on as a senior adviser on the company’s board of directors.
The deal earned a thumbs up from the Lakers’ NBA Hall of Fame alumnus Earvin “Magic” Johnson, who played 13 seasons with the franchise and won five championships.
“Laker fans, you couldn’t have two better owners,” Johnson posted on X. “I’ve known Bob personally for over 40 years — he has always loved the Lakers and basketball and he will bring championships back to L.A.”
The Lakers finished the 2025-2026 regular season with a 53-29 record, averaging 116.3 points per game. LeBron James announced last month that he was leaving the franchise after eight years. He will play the upcoming season for the Philadelphia 76ers.
Last year, Walter purchased the Lakers from the Buss family, which had owned it since the 1970s. The June 2025 purchase was approved by the NBA in October 2025. The $10 billion price tag was the highest ever set for a pro sports team at the time.
The Lakers didn’t immediately respond to a request for comment about the sale.
Walter said in a statement that he was thankful to the Buss family and the team for his experience.
“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,” Walter said. “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 new owners live and work in the Los Angeles area. Iger has a home in the Brentwood area, while Kushner splits his time between California and New York. He and his supermodel wife, Karlie Kloss, purchased the iconic Malibu “Wave House” for $29.5 million in 2024.
