Less than one year after purchasing the majority stake of the Los Angeles Lakers, owner Mark Walter has agreed to sell the team to Bob Iger and Josh Kushner for a record-breaking $12.5 billion valuation.
The deal reportedly came together within just a few days as both Iger and Kushner were known to be involved in the potential NBA expansion into Las Vegas, but pivoted as the price for the expansion franchise continued to rise.
Under Walter, the Lakers had begun investing greatly into the infrastructure of the team, building out the front office staff on both the basketball and business sides and remodeling the practice facility this offseason as well. Whether this will continue under Iger and Kushner remains to be seen, but both have been very successful in their ventures so far.
What to know about Bob Iger
Iger was born and raised in New York City and earned a Bachelor of Science degree in Television and Radio from Ithaca College, where he graduated magna cum laude. He is most known for his time as President and CEO of The Walt Disney Company.
Iger was named President at Disney in 2000 and took over as CEO in 2005, serving in that capacity until 2020. He would then return in that role in 2022 until 2026. Under Iger’s leadership, Disney significantly expanded its intellectual properties, purchasing the likes of Marvel Entertainment in 2009, Pixar in 2006 and the entertainment assets of 21st Century Fox in 2019.
Iger also served on the board of directors for Apple from 2011 until 2019. Additionally, he and his wife Willow bought a majority stake in Angel City FC of the National Women’s Soccer League for $100 million in 2024.
What to know about Josh Kushner
Kushner was born and raised in New Jersey and would earn both a Bachelor’s and Master’s degree from Harvard University. He is also the younger brother of Jared Kushner, former senior advisor and son-in-law of President Donald Trump.
Kushner founded venture capital firm Thrive International in 2009, which focuses on media and internet investments. Iger actually is a minority owner in Thrive as he is part of a group of investors that purchased a 3.3% stake in the company in 2021. Kushner is also the co-founder and vice chairman of health insurance startup Oscar Health, which was founded in 2012.
Additionally, Kushner was a minority owner of the Miami Heat, purchasing a small stake in 2024, though he will have to give that up now that he has purchased the Lakers. Prior to that he was also a minority owner of the Memphis Grizzlies. He is married to model, entrepreneur and philanthropist Karlie Kloss.
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