Former Walt Disney Company CEO Bob Iger and businessman Josh Kushner have entered into an agreement to purchase the Los Angeles Lakers for $12.5 billion. The transaction is subject to approval by the NBA Board of Governors.
Iger and Kushner confirmed the pending purchase in a joint statement, expressing their honor in becoming stewards of the storied NBA franchise. They conveyed deep respect for the legacy of Jerry and Jeanie Buss, the team's former and current leaders, respectively. "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 statement read.
Kushner, founder of the venture capital firm Thrive Capital, has a previous connection to Iger, having joined the firm after Iger stepped down from his role as Disney CEO earlier this year. Iger had previously served as CEO of Disney for over a decade starting in 2005, and again from 2022 to 2026.
Mark Walter, CEO of TWG Global and owner of a majority stake in the Los Angeles Dodgers, is selling his controlling interest in the Lakers. Walter, who purchased his stake in the team in 2025, reflected on his tenure, stating, "Owning the Los Angeles Lakers has been one of the great honors of my life." He expressed gratitude to the Buss family, players, and staff, and stated his confidence that the team's future remains bright.
The Lakers are set to begin their upcoming season on Oct. 21, facing the Golden State Warriors. This marks a new chapter for the team, following the recent departure of LeBron James, who moved to the Philadelphia 76ers last month.