Bob Iger and Josh Kushner Purchase Los Angeles Lakers for $12.5 Billion

What's Happening? In a surprising move, Bob Iger and Josh Kushner have acquired the Los Angeles Lakers for over $12 billion, just months after Mark Walter became the majority owner. Iger, former CEO of Disney, and Kushner, founder of Thrive Capital, expressed their commitment to building on the Lake

Basketball Zone

SEE ALL

Trendline

Charlotte Hornets Sign One-Year Over-the-Air Broadcast Deal with Cox Media Group

Lebron Wire

Iger: Agreement to purchase Lakers 'came together in three days'

Lebron Wire

Luka Doncic comments on Mark Walter's sale of Lakers

What is the story about?

What's Happening?

In a surprising move, Bob Iger and Josh Kushner have acquired the Los Angeles Lakers for over $12 billion, just months after Mark Walter became the majority owner. Iger, former CEO of Disney, and Kushner, founder of Thrive Capital, expressed their commitment

to building on the Lakers' legacy and competing at the highest level. The acquisition marks a new era for the Lakers, with Luka Dončić leading the team following LeBron James' departure to the Philadelphia 76ers. Walter, who remains CEO of Guggenheim Partners, is under federal investigation for alleged tax fraud.

Why It's Important?

The sale of the Lakers to Iger and Kushner is significant as it represents a major shift in ownership for one of the most iconic sports franchises. This acquisition could bring new strategies and investments to the team, potentially impacting its performance and business operations. The involvement of high-profile businessmen like Iger and Kushner may also influence the broader sports industry, encouraging other investors to consider similar ventures. Additionally, the sale highlights the financial dynamics and high valuations within professional sports, reflecting the growing economic importance of sports franchises.