Joshua Kushner and Bob Iger Set to Lead Lakers After $12.5 B Deal
Joshua Kushner and Bob Iger have agreed to purchase the Los Angeles Lakers for a reported $12.5 billion, pending NBA approval.
A new ownership consortium led by Joshua Kushner and Bob Iger has reached an agreement to buy the Los Angeles Lakers for an estimated $12.5 billion, the highest price ever recorded for a U.S. sports franchise. Kushner, who founded Thrive Capital in 2009, amassed his fortune by investing in high-growth technology companies, including Instagram, Spotify, Stripe and OpenAI, and now oversees roughly $25 billion in assets. Iger, after a long career at Disney that included the acquisition of Pixar, Marvel, Lucasfilm and 21st Century Fox and the launch of Disney+, accumulated wealth through executive compensation and equity.
The purchase will be funded by a larger investment group rather than the two individuals alone, and it still requires approval from the NBA. The deal highlights the soaring market value of professional basketball and the blend of Silicon Valley capital with entertainment industry expertise.
Why it matters
The sale shows how tech wealth and media influence are reshaping ownership of major sports franchises.
How this story developed
- Aug 12 Bob Iger and Josh Kushner Acquire Lakers for Over $12 Billion
- Aug 12 The NBA Board of Governors scheduled a September vote on the proposed Lakers sale.
- Aug 15 The purchase agreement was announced just days after Iger and Kushner were approached about buying the Lakers.
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