The Los Angeles Lakers, one of the NBA’s most iconic franchises, have been sold for $12 billion to former Disney CEO Bob Iger and businessman Josh Kushner. This sale comes just a year after Mark Walter purchased the team for $10 billion. Iger and Kushner were initially pursuing the NBA’s new expansion team in Las Vegas but shifted their focus to acquiring the Lakers, outbidding Walter by $2 billion. Iger, who is 75, recently stepped down from his position at Disney, while Kushner, 41, is known for his connections to former President Donald Trump through his brother Jared Kushner. The Lakers were previously owned by the Buss family for 46 years before Walter’s acquisition in 2025. Walter, who also owns the MLB’s Los Angeles Dodgers, is currently under federal investigation for alleged loan fraud.
Why It Matters
The sale of the Los Angeles Lakers for $12 billion highlights the increasing value of NBA franchises, with the Lakers being one of the most storied teams in sports history. Mark Walter’s initial purchase in 2025 marked a significant financial milestone, reflecting the lucrative nature of professional sports ownership. The involvement of high-profile individuals like Bob Iger and Josh Kushner suggests a trend where prominent figures from various industries are investing in sports franchises, further driving up valuations. Additionally, the ongoing federal investigation into Walter raises questions about the integrity and financial practices within sports ownership.
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