Billionaire Josh Kushner Joins Bob Iger in US$12.5 Billion Lakers Purchase
Billionaire Josh Kushner joins Bob Iger in acquiring majority ownership of the Los Angeles Lakers at a record $12.5 billion valuation.
Bob Iger and business partner Josh Kushner announced their acquisition of majority ownership in the Los Angeles Lakers for a record-breaking US$12.5 billion. The deal came together in just three business days after Iger learned that Mark Walter was considering selling his stake in the NBA team. Originally, Iger and Kushner were pursuing an ownership stake in a potential NBA expansion franchise in Las Vegas, but their plans shifted when they were informed Walter might be interested in selling his Lakers stake.
Iger, former CEO of Disney, and Kushner expressed their immense respect and appreciation for former Lakers majority owner Jeanie Buss and her father, acknowledging their significant contributions to the franchise. They also confirmed their intention to honor the agreement between Walter and Buss.
The acquisition of the Lakers marks one of the largest transactions in sports history and represents a significant business opportunity and personal milestone for Iger. The new ownership group aims to build on the franchise's existing strengths and honor the existing agreement with Buss rather than immediately introducing major changes.
Iger and Kushner, avid NBA fans, were drawn to the Lakers due to the franchise's global profile. They plan to speak with Lakers coach JJ Redick and star Luka Doncic in the near future. Iger acknowledged that there is still much to learn about the organization before making decisions, stating that it's premature to speculate about future plans.
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