Los Angeles Lakers legend Magic Johnson has given his strong approval of the franchise's new ownership group.
Bob Iger and Josh Kushner have agreed to purchase the Lakers from Mark Walter in a record $12.5 billion deal, which would represent the highest valuation for a U.S. professional sports franchise. The transaction still requires NBA approval.
Shortly after the agreement emerged, Johnson congratulated both businessmen before delivering an optimistic message to Lakers supporters.
"I want to congratulate my good friend Bob Iger and Josh Kushner on their purchase of the Los Angeles Lakers!" Johnson wrote on X.
Magic Johnson predicts championships under Iger, Kushner
Johnson has a particularly long relationship with Iger and revealed that he has known the former Disney CEO for more than four decades.
"Laker fans, you couldn't have two better owners," Johnson wrote. "I've known Bob personally for over 40 years - he has always loved the Lakers and basketball and he will bring championships back to LA."
Iger and Kushner had previously been pursuing the possibility of owning an NBA expansion franchise in Las Vegas before quickly pivoting when Walter became willing to sell his Lakers stake. The agreement came together within only a matter of days.
The ownership change comes only around a year after Walter purchased control of the Lakers from the Buss family at a valuation of approximately $10 billion, making this the franchise's second major ownership transition in a short period.
It also arrives during a major basketball transition in Los Angeles.
LeBron James departed for the Philadelphia 76ers this offseason, leaving Luka Doncic firmly established as the centerpiece of the franchise entering the 2026-27 campaign.