The Los Angeles Lakers have changed ownership as Joshua Kushner and Bob Iger acquired majority control of the franchise from Mark Walter, according to statements released. The transaction values the team at $12.5 billion, marking a significant shift in the organization’s leadership within months of Walter’s previous acquisition.
In a joint statement, Kushner and Iger described themselves as lifelong NBA enthusiasts and expressed their commitment to building on the legacy established by the Buss family. They pledged to maintain competitive performance and serve the franchise, its supporters, and the Los Angeles community moving forward. The two new owners have previously collaborated on business ventures, with Iger joining Thrive Capital, Kushner’s venture capital firm, earlier this year. Iger, who is 75 years old, departed from his role as chief executive of Disney earlier this year, concluding two separate tenures totaling approximately two decades in that position.
Kushner’s background includes connections to high-profile political figures, being the brother of Jared Kushner, who is married to President Donald Trump’s daughter Ivanka. Prior to acquiring the Lakers, both Kushner and Iger had expressed interest in purchasing an NBA expansion franchise for Las Vegas. Additionally, Iger and his spouse, Willow Bay, acquired the professional women’s soccer organization Angel City Football Club in 2024 for $250 million.
Walter acquired the Lakers in October at a valuation of $10 billion. His broader investment portfolio includes ownership stakes in various sports properties and financial firms through his TWG Global holding company, encompassing interests in the Los Angeles Dodgers, Chelsea Football Club, and the Los Angeles Sparks. Recent reports indicated that Walter, age 66, experienced a stroke in 2024, with ongoing questions raised about potential health-related impacts on his business leadership.
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