LA Lakers sell for a record $12.5 billion to ex-Disney CEO Iger and Jared Kushner’s brother Josh
LA Lakers Sell for a Record $12.5 Billion
Healfromzero.com – The LA Lakers sell for a record $12.5 billion in a landmark deal that brings former Disney CEO Bob Iger and venture capitalist Josh Kushner together as the new owners of the iconic franchise. This historic transaction marks one of the most significant ownership changes in American sports history, uniting two influential business leaders with deep connections to entertainment and finance.
Kushner, brother of Jared Kushner—former White House advisor and son-in-law of President Donald Trump—has joined forces with Iger in this ambitious acquisition. The announcement, initially reported by ESPN and confirmed through a joint statement on Wednesday, signals a new era for the Lakers. The deal represents an extraordinary moment for a franchise that has captivated basketball fans worldwide for generations.
Unprecedented Speed of the Sale
What makes this acquisition particularly remarkable is its rapid timeline. The LA Lakers sell for a record price less than twelve months after billionaire Mark Walter secured majority ownership through his Guggenheim Investments firm. Walter’s initial purchase valued the team at approximately $10 billion, though he did not acquire complete control of the franchise. Since taking charge last October, Walter has managed day-to-day operations while maintaining his broader business portfolio.
The swift transfer of ownership has caught industry observers off guard. Sports franchises typically remain under the same ownership group for decades, making this quick transition an exceptional occurrence in professional athletics. One banking executive involved in sports deals described the situation as entirely unprecedented, noting that flipping a premier franchise within such a short window has never been witnessed before.
New Leadership Vision
In their joint statement, Iger and Kushner expressed their enthusiasm for guiding the Lakers forward. Both men emphasized their lifelong connection to the NBA and their commitment to maintaining the franchise’s competitive excellence.
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. 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 reflects the new owners’ intention to honor the Lakers’ rich heritage while positioning the organization for continued success. With seventeen championship titles to their name, the Lakers remain among the most accomplished teams in basketball history. Their most recent title came during the 2019-20 season, demonstrating the franchise’s ability to remain competitive across different eras of the game.
Walter’s Exit Amid Financial Scrutiny
Mark Walter’s departure from the Lakers ownership group comes at a time when his financial enterprise faces heightened attention. The Wall Street Journal recently disclosed that an internal whistleblower complaint concerning Guggenheim Investments prompted a federal investigation. While CNN has not independently verified the investigation, a representative for Guggenheim’s parent organization told the newspaper that the company has consistently operated with integrity and is cooperating fully with authorities.
Walter acknowledged the significance of his time with the Lakers in his own statement to ESPN. He described ownership as one of the greatest honors of his life and emphasized the emotional connection he developed with the community. His words highlighted the relationship between the franchise and Los Angeles, noting that the city treats the team as family.
Broader Implications for Sports Business
This transaction carries implications beyond the Lakers organization. The involvement of Iger, who built his career transforming Disney into a global entertainment powerhouse, signals potential strategic shifts in how the franchise approaches branding, media partnerships, and fan engagement. Meanwhile, Kushner’s venture capital background suggests a data-driven approach to team management and business development.
The deal still requires formal approval from the NBA’s Board of Governors before becoming official. This procedural step is standard for major ownership changes in professional sports, ensuring that all parties meet league requirements and that the transition proceeds smoothly.
FAQ: What You Need to Know
Who are the new owners of the LA Lakers? Bob Iger, former Disney CEO, and Josh Kushner, brother of Jared Kushner, have jointly purchased the franchise for $12.5 billion.
How quickly did the sale happen? The LA Lakers sell for a record amount less than twelve months after Mark Walter acquired majority ownership, making it one of the fastest franchise flips in sports history.
What happens next? The NBA’s Board of Governors must formally approve the deal before the ownership change becomes official.
Why is this deal significant? It brings together entertainment industry expertise from Iger and venture capital insight from Kushner, potentially reshaping how the Lakers approach business and fan engagement.
For Lakers fans, the announcement represents both continuity and change. The franchise’s identity remains deeply rooted in Los Angeles, and the new ownership has pledged to maintain that connection while pursuing growth opportunities. The combination of entertainment industry expertise and financial acumen positions the Lakers for an exciting new chapter in their storied history.
