A consortium led by Joshua Kushner and Disney chief executive Bob Iger has sealed a $12.5 billion acquisition of the Los Angeles Lakers, marking the most expensive transaction in NBA history and surpassing the $10 billion valuation previously set by Mark Walter.
The deal, which was approved by the NBA board in October 2023, transfers ownership of the storied franchise from Walter’s group to the new partners, who have expressed deep respect for the legacy of the Buss family that built the team into a basketball powerhouse.
Honoring a Dynasty
Jerry Buss, the late visionary who turned the Lakers into a cultural icon, is remembered by his children, including Jeanie Buss, who praised the incoming owners for their commitment to preserving the franchise’s storied identity while steering it toward a new era.
Kushner and Iger had previously explored the possibility of launching an NBA expansion team in Las Vegas, a plan that was ultimately abandoned in favor of the Lakers purchase, underscoring the strategic calculations that led to the current deal.
Joshua Kushner’s involvement in a separate, high‑profile proposal to sell minority stakes in FIFA at a $20 billion valuation also attracted global attention, though the plan was eventually shelved amid widespread criticism and a shift in leadership under Gianni Infantino.
The FIFA initiative, which had drawn scrutiny for its ambitious valuation, highlighted Kushner’s willingness to venture into international sports governance, a move that now appears intertwined with his U.S. political connections through his brother Jared, who is married to former President Donald Trump’s daughter.
Bob Iger, whose tenure at Disney includes a notable investment in Angel City FC, a women’s soccer club in the National Women’s Soccer League, brings a media‑savvy perspective to the Lakers’ ownership group, promising to leverage content platforms to enhance the team’s brand.
The transaction also places Mark Walter’s financial empire under a federal investigation related to investments made through his insurers and affiliated entities, adding a layer of legal complexity to a deal that has captured the imagination of sports fans and investors alike.