Former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner are set to buy the Los Angeles Lakers for more than $12 billion, a record price for a professional sports franchise, ESPN reported Wednesday.
“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 in a joint statement. “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 pair will acquire the Lakers from Mark Walter, who became the team’s majority owner last year.
The deal marks the second time the Lakers have changed hands in less than a year. The NBA approved Walter’s purchase of a majority interest from the Buss family last October in a deal that valued the franchise at $10 billion. Jeanie Buss remained the Lakers’ governor following the sale.
“Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said in a statement. “The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
Iger stepped down as Disney CEO earlier this year and subsequently returned to Kushner’s Thrive in an advisory role. He previously served as a venture partner at the firm between his two stints leading Disney.
Iger and his wife, Willow Bay, also acquired a controlling stake in Angel City FC in 2024, giving the former Disney chief an existing foothold in Los Angeles professional sports.
Iger and Kushner had also been eyeing a bid for a potential NBA expansion team in Las Vegas, TheWrap previously reported. The pair had been working with investment bankers on a potential offer through Thrive Eternal, a holding company established by Thrive Capital, before pivoting to the Lakers, according to ESPN.
Kushner founded Thrive Capital in 2009 and is also the co-founder and vice chairman of health insurer Oscar Health.
