Josh Kushner, Bob Iger Strike Deal to Buy Los Angeles Lakers for Record $12.5 Billion
AM730 · 3 SOURCESabout 1 hour ago2 MIN
Summary
Joshua Kushner and former Disney CEO Bob Iger have reached a landmark agreement to acquire the Los Angeles Lakers from Mark Walter at a valuation of $12.5 billion—the highest price ever paid for a professional sports franchise . The 41-year-old Kushner, who has largely remained out of the public eye despite being the brother of Donald Trump's son-in-law Jared Kushner, partnered with the 75-year-old entertainment mogul Iger for this historic purchase . The deal still requires approval from the NBA Board of Governors and is expected to take several months to complete .
Key Points
- The $12.5 billion purchase price represents the highest valuation ever achieved in professional sports team sales, surpassing all previous records
- Josh Kushner and Bob Iger previously were involved in plans to establish an NBA expansion team in Las Vegas before pivoting to acquire the Lakers
- Mark Walter became the Lakers' controlling owner just last October 2024 when his $10 billion acquisition was approved, meaning the team's value increased by $2.5 billion in under a year
- Before finalizing the Lakers purchase, Kushner must divest his minority stake in the Miami Heat and had previously owned shares in the Memphis Grizzlies
- Luka Doncic responded enthusiastically, stating he looks forward to meeting the new owners and creating "something special" in Los Angeles
Why It Matters
This acquisition underscores the Lakers' status as not merely a sports franchise but a global entertainment brand capable of commanding unprecedented valuations in an era when professional sports organizations increasingly rival major media conglomerates in cultural and financial influence . The involvement of Kushner—a venture capitalist with estimated net worth of $5 billion whose Thrive Capital firm holds early positions in OpenAI and SpaceX—signals a new era where tech-industry wealth intersects with traditional sports ownership .
This acquisition underscores the Lakers' status as not merely a sports franchise but a global entertainment brand capable of commanding unprecedented valuations in an era when professional sports organizations increasingly rival major media conglomerates in cultural and financial influence . The involvement of Kushner—a venture capitalist with estimated net worth of $5 billion whose Thrive Capital firm holds early positions in OpenAI and SpaceX—signals a new era where tech-industry wealth intersects with traditional sports ownership .