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The Los Angeles Lakers have been purchased by Bob Iger and Josh Kushner in a deal valued at $12.5 billion dollars, news reports say.
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Just months ago, Mark Walter bought a controlling interest in the team from the Buss family, owners since 1979. That deal, which was agreed to in June of last year and approved in October was valued at a record-setting $10 billion, the Associated Press reported.
Kushner and Iger confirmed the latest deal Wednesday, NBC News said.
“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,” Kushner and Iger said in a statement.
In a statement to ESPN, Walter called owning the Lakers “one of the great honors of my life.”
“The Lakers belong to Los Angeles, and I have every confidence the best is still ahead,” Walter said, according to ESPN.
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The sale must be approved by the NBA board of governors, which next meets in September, the Associated Press said.
Kushner is a venture capitalist and younger brother of Jared Kushner, President Donald Trump’s son-in-law. Iger is the former CEO of the Walt Disney Company and had been part of the effort to land an NBA expansion team in Las Vegas.
“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA,” Lakers player Luka Doncic posted to X. “I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise.”
The Lakers have won 17 championships, most recently in 2020. LeBron James announced in July that he was leaving the team to join the Philadelphia 76ers.
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