Could it be true? News comes in that Bob Iger, the former CEO of Disney has, along with Josh Kushner, bought the LA Lakers in a deal worth $12.5bn after an aggressive offer to buy the franchise from Mark Walter, who himself bought the team from Jeanie Buss (daughter of long-time owner Jerry Buss) in 2025 for $10bn. In a joint statement, Iger and Kushner were keen to tip the hat to the Buss family, and state their vision for the future.
“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.”
Walter, the CEO and chair of diversified holding company TWG Global, has been the Lakers’ majority owner since October when his bid was unanimously approved by the NBA.
“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. “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.”
The sale will need approval from the NBA’s board of governors, and that process can take several weeks. The next board meeting is set for September in New York.
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