Private equity backs Joshua Kushner and Bob Iger in $12.5 B Lakers takeover

Joshua Kushner, founder of Thrive Capital, and former Disney CEO Bob Iger have reached an agreement to purchase a controlling interest in the Los Angeles Lakers, a transaction that values the franchise at $12.5 billion. Their bid follows a broader trend in which private-equity firms are increasingly targeting sports teams, attracted by lucrative media deals, consistent fan engagement and the perception that sports are relatively insulated from economic cycles.

Data from the CFA Institute shows that over 74 teams now have some private-equity involvement, and such investors have driven more than half of all sports-industry M&A since 2019. While fresh capital can fund arena upgrades and player contracts, analysts warn that owners may push ticket prices higher to meet investment return goals. The Lakers, previously owned by the Buss family for more than 45 years, will become part of a growing portfolio that includes stakes in the San Francisco Giants and other major franchises, as league rules gradually permit larger private-equity holdings.