Iconic NBA Franchise Under New Ownership: Iger and Kushner Acquire the Lakers

Venture capitalist Joshua Kushner and former Disney CEO Bob Iger are set to acquire the Los Angeles Lakers in a deal worth $12.5 billion. Both bring significant sports and business experience. Their purchase was announced as they pivot from a previous plan to expand into Las Vegas. The agreement awaits board approval.

Venture capitalist Joshua Kushner and former Disney CEO Bob Iger are reportedly acquiring the Los Angeles Lakers for a record $12.5 billion, according to sources. The deal marks a significant change in ownership following billionaire Mark Walter's acquisition of a majority stake last year.

Iger and Kushner, both longtime NBA fans, expressed their excitement, pledging to uphold the legacy of the iconic franchise. Their statement highlighted their commitment to building upon the Lakers' strong foundation and enhancing its ties with Los Angeles residents and fans.

The acquisition awaits approval from the NBA's board of governors and is pending due diligence by Kushner's Thrive Eternal. Previously, Iger and Kushner considered establishing an expansion team in Las Vegas, but they have shifted their focus with this high-profile Lakers acquisition.