The Los Angeles Lakers are set to be purchased by Josh Kushner and Bob Iger, marking the second change in ownership within a year. The sale, valued at a staggering $12.5 billion US, signifies a record-breaking transaction in the world of sports. ESPN initially reported the acquisition, highlighting Kushner and Iger as the buyers of the NBA’s most valuable team. This purchase surpasses the Lakers’ previous valuation of $10 billion when Mark Walter acquired a controlling interest from the Buss family in 2021.
Expressing their enthusiasm for the iconic franchise, Iger and Kushner stated their commitment to upholding the Lakers’ legacy, competing at the highest level, and serving the team, its fans, and the city of Los Angeles. The acquisition allows Kushner and Iger to forgo pursuing an NBA expansion team for Las Vegas, providing immediate ownership of the esteemed Lakers organization.
The impending sale is subject to approval by the NBA’s board of governors, a process expected to take several weeks. The $12.5 billion price tag not only sets a new record in U.S. professional sports but also signifies a significant increase in NBA franchise valuations. The decision by Walter to sell the team after only 10 months of ownership has sparked reactions among fans, with the Lakers boasting a rich history as 17-time NBA champions.
Lakers’ star player Luka Doncic, expressing his excitement about the future under the new ownership, emphasized his dedication to bringing another championship to Los Angeles. The incoming owners, Kushner and Iger, bring a wealth of experience and passion for sports, with Iger’s notable tenure as CEO of the Walt Disney Company and Kushner’s previous ownership stakes in NBA and other sports franchises.
The deal, once finalized, will mark a significant chapter in the Lakers’ history, with potential implications for the team’s operations and future direction under the stewardship of Kushner and Iger. The sale price underscores the immense value and global appeal of the Lakers franchise, positioning it as a cornerstone in the world of professional sports.