Bob Iger and Josh Kushner to Buy Los Angeles Lakers in $12.5 Billion Deal, Ending Another Chapter in Franchise Ownership

The Los Angeles Lakers are set for another major ownership transition, with former Disney chief executive Bob Iger and Thrive Capital founder Josh Kushner agreeing to purchase the legendary NBA franchise in a deal valuing the team at approximately $12.5 billion, according to a source close to the transaction.

Variety reported that Iger and Kushner are buying the Lakers, although the transaction still must pass several important steps before becoming official. The deal is expected to move forward pending Thrive Capital’s due diligence and approval through the NBA’s ownership review process.

If completed at the reported valuation, the transaction would represent another dramatic increase in the value of one of professional sports’ most recognizable franchises.

The agreement comes just 14 months after the Buss family, which had controlled the Lakers for decades, sold a controlling stake in the franchise to billionaire Mark Walter at a valuation of approximately $10 billion.

Now, Iger and Kushner are preparing to take over stewardship of a franchise whose identity extends far beyond basketball.

In a joint statement provided to Variety, the two investors emphasized both their personal connection to the NBA and their awareness of the Lakers’ significance.

“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,” Iger and Kushner said.

They also acknowledged the legacy of the family that shaped the modern Lakers.

“We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” they continued. “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 reference to Jerry Buss is particularly significant.

Buss transformed the Lakers after purchasing the franchise in 1979, helping turn the organization into an unprecedented combination of elite basketball, Hollywood glamour and entertainment spectacle.

Under his ownership, the Lakers became synonymous with the “Showtime” era, led on the court by stars such as Magic Johnson and Kareem Abdul-Jabbar.

But Buss’ impact extended beyond championship banners.

He understood that Los Angeles basketball could function as entertainment in the broadest sense. Games became social events where film stars, musicians, business leaders and celebrities gathered courtside.

The atmosphere first flourished at The Forum and later continued at Staples Center, now known as Crypto.com Arena.

Over the decades, Lakers games became one of Los Angeles’ most recognizable status symbols.

Celebrities including Leonardo DiCaprio, Snoop Dogg, Denzel Washington and, most famously, Jack Nicholson became familiar courtside presences.

That blend of basketball success and Hollywood culture turned the Lakers into something larger than a conventional sports organization.

It is also one reason the involvement of Bob Iger carries particular significance.

Iger spent decades at the center of the entertainment industry and became one of Hollywood’s most influential executives during his leadership of The Walt Disney Company.

He stepped down from Disney’s top executive position in March 2026, marking the end of another chapter in his long association with the company.

Not long afterward, Iger took on an advisory role at Thrive Capital, strengthening his professional relationship with Josh Kushner.

The partnership was not entirely new.

Iger had previously served as a venture partner at Kushner’s investment firm before returning to Disney in 2022, when the company brought him back to replace his successor Bob Chapek as chief executive.

His connection with Thrive now appears poised to extend into one of the largest sports transactions in recent memory.

Kushner, meanwhile, has developed a significant profile in the technology and investment industries.

He founded Thrive Capital, which has backed a number of prominent companies across technology, entertainment and financial services.

Thrive’s investment portfolio has included companies such as Instagram, Spotify, Patreon, Robinhood, OpenAI and A24.

The investment firm also recently raised approximately $10 billion for a new group of funds, giving it substantial capital for future investments.

Kushner is also not entering professional basketball ownership for the first time.

He already holds a minority stake in the Miami Heat, another high-profile NBA franchise.

That existing ownership interest could become relevant as the Lakers transaction moves through the NBA’s approval process, although the reported deal remains subject to the league’s formal review.

Kushner is also the younger brother of Jared Kushner, who has served as a White House adviser.

The Lakers transaction arrives during what is already a period of significant change for the organization.

The ownership development follows another major shift involving the franchise’s most prominent player of the past several years.

LeBron James recently left the Lakers after eight seasons with the team.

In July, the veteran NBA star signed with the Philadelphia 76ers on a reported two-year, $8 million contract, ending his lengthy tenure in Los Angeles.

James’ departure effectively closed one competitive era for the franchise at nearly the same time that its ownership structure was preparing to change again.

For a team with the history and expectations of the Lakers, those transitions immediately create questions about what comes next.

The incoming ownership group would inherit an organization whose priorities are unusually demanding.

The Lakers are not judged simply on profitability or playoff appearances. Their history has created an expectation of championships and star power.

From the eras of George Mikan and Jerry West, to Magic Johnson and Kareem Abdul-Jabbar, to Shaquille O’Neal and Kobe Bryant, and more recently LeBron James, the franchise has repeatedly built its identity around some of basketball’s most recognizable players.

That reputation also carries commercial value.

The reported $12.5 billion valuation demonstrates how dramatically the economics of elite professional sports franchises have expanded.

Just 14 months earlier, the Lakers were valued at around $10 billion when the Buss family sold a controlling interest to Mark Walter.

The newly reported price represents a substantial increase over that figure in a remarkably short period.

For Iger and Kushner, however, their public statement suggested that the investment is intended to be more than a financial transaction.

Their comments focused on stewardship, competition and the relationship between the franchise and Los Angeles.

That language reflects the unusual position the Lakers occupy within the city.

Los Angeles has several major professional sports organizations, but few have developed the same connection to Hollywood culture as the Lakers.

Jerry Buss cultivated that image deliberately.

During the “Showtime” years, Lakers games became an intersection of elite athletics and celebrity entertainment. Courtside seats became symbols of influence, and the team developed a cultural presence that reached viewers far beyond traditional basketball audiences.

That legacy remains visible decades later.

Even when the franchise struggles on the court, Lakers games continue attracting entertainment stars and prominent public figures.

That makes Iger — a longtime entertainment executive deeply connected to Hollywood — a particularly noteworthy figure to become involved with the franchise.

Kushner brings a different profile, centered more heavily on venture capital, technology and high-growth investment.

Together, the two would combine entertainment-industry experience with substantial financial resources and investment expertise.

Whether that combination eventually translates into basketball success will depend on decisions that extend far beyond ownership.

The Lakers will still need to navigate roster construction, player development, salary-cap management and the constant challenge of attracting elite talent while remaining competitive in the Western Conference.

But ownership can shape the long-term direction of a franchise, particularly one as commercially and culturally influential as the Lakers.

For now, the deal is not yet complete.

Thrive Capital must finish its due diligence, and the transaction must receive approval from the NBA before Iger and Kushner can formally assume control.

If those steps are completed, however, the sale would mark another extraordinary milestone in Lakers history.

A franchise transformed by Jerry Buss into basketball’s ultimate Hollywood spectacle would enter a new era under two figures whose careers have been deeply connected to entertainment, technology and major investment.

The reported $12.5 billion purchase price reflects how valuable the Lakers have become.

But for their prospective new owners, the greater challenge will be preserving the legacy that made the franchise worth that amount in the first place — while attempting to build the next championship chapter in Los Angeles.