Venture capitalist Joshua Kushner and former Disney chief executive Bob Iger have struck a deal to acquire the Los Angeles Lakers for $12.5 billion, according to an ESPN report released Wednesday.
Pending formal endorsement by the NBA, the transaction will eclipse the prior record valuation established just 12 months ago when insurance tycoon Mark Walter acquired the storied franchise for approximately $10 billion.
Both Kushner and Iger are Jewish. The 41-year-old Kushner leads venture firm Thrive Capital as its founder and managing partner. He is the younger brother of Jared Kushner - the son-in-law of US President Donald Trump who served as a central Middle East envoy - and the son of real estate figure Charles Kushner, who currently holds the post of US ambassador to France.
Iger, 75, helmed The Walt Disney Company across two stints (2005-2020 and 2022-2026), orchestrating blockbuster corporate expansions that brought Pixar Studios, Marvel Entertainment, Lucasfilm, and 21st Century Fox under the Disney banner.
Addressing the upcoming ownership transition, Kushner and Iger released a joint statement.
"As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss," they said.
The incoming owners added, "Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles."
The announcement drew positive reactions from the court. Franchise cornerstone Luka Doncic, who has anchored the team following the exit of LeBron James, expressed enthusiasm on social media about connecting with the new ownership.
"Being a Laker means everything to me, and I'm excited to get back on the court and bring a championship to LA. I've gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise," Doncic wrote, adding, "I look forward to meeting Josh and Bob so we can get to work building something special in LA together."
The sale unfolds against a turbulent backdrop for outgoing owner Mark Walter, who is currently the subject of federal inquiries led by Securities and Exchange Commission officials and federal prosecutors in New York regarding alleged tax fraud within his insurance holdings.