Josh Kushner and Bob Iger have purchased the Los Angeles Lakers for a record-breaking $12 billion, sources tell ESPN.
Kushner, the younger brother of President Donald Trump’s son-in-law Jared Kushner, and Iger, the former CEO of Disney, made the stunning offer to the team’s majority owner, Mark Walter, just a few months after he purchased a controlling interest in the team last October. It’s the highest price ever paid for an American sports team.
“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. We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” Kushner and Iger said in a 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.”
Josh Kushner, a billionaire venture capitalist, is married to model Karlie Kloss and has sought to distance himself from his brother’s ties to the Trump administration.
Iger served as CEO of the Walt Disney Company two different times—from 2005 to 2020 and again from 2022 to 2026.
The two businessmen share a close professional relationship. Iger joined Kushner’s venture capital firm Thrive Capital as a partner in 2022.
Walter, who bought the majority stake in the Lakers for the historic amount of $10 billion from the Buss family, is also the principal owner of the Los Angeles Dodgers and the WNBA’s Los Angeles Sparks.
“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. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead,” Walter said in a statement.
Walter is currently under federal investigation for potential fraud involving his companies. He has denied any wrongdoing and stressed that his companies are cooperating with investigators.
