Bob Iger and Josh Kushner in Talks to Purchase the Lakers
Former Disney CEO Bob Iger and Josh Kushner, who happens to be the younger brother of Jared Kushner, are reportedly in the process of acquiring the Los Angeles Lakers for an impressive $12.5 billion.
Sources shared with ESPN that both Iger and Kushner made a strong offer to buy the Lakers from Mark Walter. It’s interesting to note that Walter had acquired control of the team from the Bass family just last year, at a record valuation of approximately $10 billion.
In a joint statement, the two expressed their status as “lifelong NBA fans” and emphasized their commitment to building a competitive foundation for the franchise.
“We are incredibly honored to have the opportunity to oversee one of the world’s most iconic sports franchises, the Los Angeles Lakers,” they stated. “We hold great respect for the leadership of Jerry and Jeanie Buss. Our goal is to build on their legacy, compete at the highest level, and serve this exceptional team, its fans, and the city of Los Angeles.”
Walter, who is also the CEO and chairman of TWG Global, has held the title of majority owner of the Lakers since October, after the NBA gave unanimous approval for his bid.
Walter mentioned, “Owning the Los Angeles Lakers is one of the greatest honors in my life and an incredible investment. However, it’s the community, fans, and city that treat this team like their own family that I will cherish the most. I extend my gratitude to Jeannie Buss, the Buss family, players, and staff for welcoming me into this journey. The Lakers truly belong in Los Angeles, and I believe the best days are still ahead.”
Iger revealed that his initial interest was in launching a new franchise in Las Vegas, which is kind of unexpected. “While we were exploring opportunities in Las Vegas, we heard that Mark Walter might be interested in selling his stake in the Lakers,” he shared. “It quickly became clear that pursuing this opportunity was a wise choice, given the franchise’s value and iconic status. The deal came together in just three days—it felt like a no-brainer.”
As reported by ESPN, the proposed sale will need the approval of the NBA Board of Governors, a process that could take several weeks.
Additionally, it’s worth mentioning that Kushner is currently a minority owner of the Miami Heat and has ties to the Memphis Grizzlies as well. He would need to sell his shares in the Heat to proceed with the Lakers acquisition.
