Celebrities Attend The 2025 US Open Tennis Championships - Day 10
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The Los Angeles Lakers have been sold to venture capitalist Josh Kushner and former Disney CEO Bob Iger in a historic deal. The news was first reported by ESPN on Wednesday, and later confirmed by Deadline. The two businessmen have reportedly agreed to purchase the storied NBA franchise from current majority owner Mark Walter for $12.5 billion, a price that would set a new record for a sports franchise acquisition. The deal has not been finalized and requires approval from the NBA’s board of governors.
“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,” Iger and Kushner said in a joint statement. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss. 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 price tag sets a new record for a sports franchise acquisition, surpassing the $10 billion Walter paid for a controlling interest in the Lakers from the Buss family just 14 months ago, which was itself a record at the time. The next largest deals in sports history include the NBA’s Boston Celtics, which sold for $6.1 billion in 2025, and the Washington Commanders, sold for $6.05 billion in 2023.
Kushner, 41, is the founder and managing partner of Thrive Capital and co-founder and vice chairman of Oscar Health. The younger brother of President Trump’s son-in-law Jared Kushner, he holds a minority stake in the Miami Heat and has recently been embroiled in a recent drama given his involvement in a proposed plan for FIFA to sell stakes in the World Cup to private investors.
Iger, 75, stepped down as Disney’s CEO earlier this year, succeeded by Josh D’Amaro in his second stint leading the company. In 2024, he and his wife, Willow Bay became controlling owners of Los Angeles’s NWSL franchise Angel City FC at a $250 million valuation. Reports say that Iger and Kushner had previously been involved in discussions around an NBA expansion team in Las Vegas before pivoting to make an aggressive offer for the Lakers.
A bride and groom seated together, both dressed in ornate traditional attire, with hands raised in prayer.
A bride and groom seated together, both dressed in ornate traditional attire, with hands raised in prayer.