Ex-Disney head Bob Iger partners with Josh Kushner to buy Los Angeles Lakers for a staggering $12.5 billion

Former Disney CEO Bob Iger and venture capitalist Josh Kushner are set to acquire the Los Angeles Lakers in a staggering $12.5 billion deal, according to sources. The billionaire duo, lifelong NBA fans, expressed their honor and commitment to stewarding one of the world's most iconic sports franchises. They pledged to build upon the foundation laid by the Buss family, compete at the highest level, and serve the team, its fans, and the city of Los Angeles.

This unexpected move follows Iger's recent departure from Disney and the Lakers' recent acquisition by Mark Walter, CEO of TWG Global, last year. Walter purchased the team for an estimated $10 billion valuation, setting a record at the time.

The Lakers, currently led by LeBron James who recently departed for the Philadelphia 76ers, will enter a new era with Doncic as the team's new star. The sale also comes just as the NBA is expanding into Las Vegas, a process Iger and Kushner had been involved in previously.

Iger, 75, and Kushner, 41, would take over the Lakers, a franchise recently valued at $12.5 billion. They would inherit a team in transition, with the departure of James and the emergence of Doncic. The purchase excludes Walter's ownership stake in other professional sports teams, including the Los Angeles Dodgers, Los Angeles Sparks, Premier League soccer club Chelsea, and the Professional Women’s Hockey League.

However, Iger's recent past is marred by a federal investigation into alleged tax fraud at other companies tied to him. Kushner, married to supermodel Karlie Kloss, is the CEO of Thrive Capital and co-founder of Oscar Health.