Former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner have agreed to purchase the Los Angeles Lakers, according to reports confirmed by the buyers and initially broken by ESPN. The transaction marks a major transition for the historic NBA franchise, which was valued at $10 billion by Forbes in December, ranking it as the fifth-most valuable sports franchise in the world.
The acquisition brings together two prominent figures from the worlds of media, technology, and venture capital to manage one of American professional sports’ most recognizable brands. Iger steps into the role following a career spanning more than 15 years leading Disney, while Kushner heads Thrive Capital, a venture capital firm.
Approval of the purchase remains subject to formal review and sign-off by the NBA’s Board of Governors. Financial terms of the agreement have not been publicly disclosed in detail beyond the franchise’s recent high-profile valuation metrics.
A New Ownership Chapter for an Iconic Franchise
In a joint statement provided to media outlets, Iger and Kushner outlined their long-term vision for the storied basketball club. “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,” the pair stated. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss. 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 Lakers hold 17 NBA titles and maintain a deep cultural footprint within the United States’ second-largest city. The franchise has seen significant ownership evolution in recent years. Billionaire Mark Walter, who also owns the MLB’s Los Angeles Dodgers, acquired a controlling interest in the Lakers from the Buss family just last year.
The incoming ownership group inherits a franchise steeped in basketball history. Over the decades, the organization has featured legendary players including Jerry West, Kareem Abdul-Jabbar, Magic Johnson, Kobe Bryant, and Shaquille O’Neal. In recent seasons, the team featured LeBron James before his departure to Philadelphia via free agency, shifting organizational focus toward building a competitive roster around NBA All-Star Luka Dončić.
Broader Business and Sports Portfolios
For Iger, the acquisition represents a high-profile return to sports and entertainment investment following his departure from executive leadership at Disney.
Kushner has increasingly expanded his investment footprint into professional sports through Thrive Capital. The venture firm recently drew significant attention and public scrutiny surrounding sports governance following a high-stakes, controversial $20 billion investment proposal directed at FIFA, soccer’s world governing body responsible for the World Cup, which sparked widespread discussions regarding sports finance transparency and executive oversight under FIFA President Gianni Infantino.
Next Steps in the League Approval Process
The transaction must clear vetting by the NBA’s Board of Governors before the sale is finalized. League officials have not yet announced a specific timeline for the review committee’s vote or the official closing date of the transaction.
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