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Real estate heir Joshua Kushner and former Disney CEO Bob Iger have agreed to buy the Los Angeles Lakers for the staggering price of $12 billion.
According to ESPN, Kushner, 41, and Iger, 75, have struck a deal with the team's current owner, Mark Walter, who purchased a controlling stake in the Lakers from the Buss family in 2025.
It marks a dramatic pivot for the two businessmen, who had previously been heavily involved in attempts to launch an NBA team in Las Vegas. Bloomberg reported as recently as June that the duo were pushing for a majority stake in a Vegas team through a bid made via Kushner's company, Thrive Capital.
Kushner, who has an estimated net worth of $5.2 billion, and Iger, who is believed to be worth around $700 million, noted in a statement that they are "honored" to have been given the opportunity to invest in such an iconic NBA team.
They then praised the work of longtime owners Jerry and Jeanie Buss, whose family has held a stake in the franchise since 1979.
"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," Kushner and Iger told ESPN.
"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."
Real estate heir Joshua Kushner and former Disney CEO Bob Iger have reportedly agreed to buy the Los Angeles Lakers for the staggering price of $12 billion. (XNY/Star Max/GC Images)
It comes amid a time of significant change for the Lakers, whose most notable player, LeBron James, announced earlier this summer that he was leaving the team and joining the Philadelphia 76ers. (Allen J. Schaben / Los Angeles Times via Getty Images)
It comes amid a time of significant change for the Lakers, whose most notable player, LeBron James, announced earlier this summer that he was leaving the team and joining the Philadelphia 76ers, after losing faith in the L.A. squad's ability to win another championship.
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According to ESPN, Kushner, 41, and Iger, 75, have struck a deal with the team's current owner, Mark Walter, who purchased a controlling stake in the Lakers from the Buss family in 2025.
It marks a dramatic pivot for the two businessmen, who had previously been heavily involved in attempts to launch an NBA team in Las Vegas. Bloomberg reported as recently as June that the duo were pushing for a majority stake in a Vegas team through a bid made via Kushner's company, Thrive Capital.
Kushner, who has an estimated net worth of $5.2 billion, and Iger, who is believed to be worth around $700 million, noted in a statement that they are "honored" to have been given the opportunity to invest in such an iconic NBA team.
They then praised the work of longtime owners Jerry and Jeanie Buss, whose family has held a stake in the franchise since 1979.
"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," Kushner and Iger told ESPN.
"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."
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Real estate heir Joshua Kushner and former Disney CEO Bob Iger have reportedly agreed to buy the Los Angeles Lakers for the staggering price of $12 billion. (XNY/Star Max/GC Images)
You must be registered for see images attach
It comes amid a time of significant change for the Lakers, whose most notable player, LeBron James, announced earlier this summer that he was leaving the team and joining the Philadelphia 76ers. (Allen J. Schaben / Los Angeles Times via Getty Images)
It comes amid a time of significant change for the Lakers, whose most notable player, LeBron James, announced earlier this summer that he was leaving the team and joining the Philadelphia 76ers, after losing faith in the L.A. squad's ability to win another championship.
Continue reading...
