Bob Iger and Josh Kushner are buying the Lakers for $12.5 billion
In a statement, former Disney CEO Bob Iger and venture capitalist Josh Kushner said they "were deeply honored" by the opportunity.
Former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner have announced their offer to purchase the Los Angeles Lakers for a staggering $12.5 billion. The pair confirmed the news in a statement to Business Insider, expressing their deep respect for the Lakers and their commitment to the team's future.
Billionaire Mark Walter currently owns the Lakers, having purchased a controlling interest from the Buss family just last year. Mark Walter's acquisition came just as Forbes had valued the team at $10 billion, making the Lakers the fifth most valuable sports franchise in the world.
The NBA Board of Governors must approve the deal. The purchase marks a significant step for Iger's career after over 15 years leading Disney. Thrive Capital, Josh Kushner's venture capital firm, was involved in a controversial $20 billion investment proposal for FIFA, soccer's world governing body.
The Lakers have a rich history, having been home to legendary players such as Jerry West, Kareem Abdul-Jabbar, Magic Johnson, Kobe Bryant, Shaquille O'Neal, and LeBron James. Following James' departure to the Philadelphia 76ers, the Lakers are looking to rebuild around NBA All-Star Luka Dončić.
Iger and Kushner, lifelong NBA fans, expressed their honor at the opportunity to steward one of the most iconic sports franchises in the world. They aim to build on the foundation laid by the Buss family, compete at the highest level, and serve the team, its fans, and the city of Los Angeles.
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