Bob Iger and Joshua Kushner have acquired the Los Angeles Lakers from Mark Walter, with the transaction valuing the iconic NBA franchise at $12.5 billion. Walter had only held the controlling stake for less than a year before selling his majority equity to the new ownership duo. Both Iger and Kushner expressed their excitement and honor at becoming stewards of the Lakers, committing to uphold the legacy set by previous leadership, including that of Jerry and Jeanie Buss.

Iger, who recently stepped down as CEO of Disney after nearly two decades in leadership, had already been collaborating with Kushner through the venture capital firm Thrive Capital, which Kushner founded. Kushner is also notable for his family ties, being the brother of Jared Kushner, who is married to Ivanka Trump. Prior to this acquisition, the pair had shown interest in buying an NBA expansion team in Las Vegas, signaling their broader ambitions within professional basketball.

Mark Walter’s brief tenure as majority owner of the Lakers came amid complications, including federal investigations into his financial companies and concerns related to his health following a stroke in 2024. While Walter retains stakes in other sports organizations such as the Los Angeles Dodgers, Chelsea FC, and the WNBA’s Los Angeles Sparks, this sale only pertains to his interest in the Lakers. Walter’s holding company, TWG Global, continues to manage these other investments.

In addition to purchasing the Lakers, Bob Iger and his wife Willow Bay made a notable investment in professional women’s soccer by acquiring Angel City Football Club for $250 million in 2024. The Lakers’ sale sets a new benchmark for NBA franchise valuations and highlights the growing financial scale of professional sports ownership partnerships.