Former Disney CEO Bob Iger and Joshua Kushner, the brother of President Donald Trump’s son-in-law, Jared Kushner are buying the controlling interest in the Los Angeles Lakers for $12.5 billion.
This comes less than a year after Mark Walter took a majority stake in the NBA franchise. Walter bought his share from the Buss family in a deal estimated to be worth $10 billion that was unanimously approved by the NBA Board of Governors in October 2025.
“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.
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“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.”
“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 also owns the MLB‘s Los Angeles Dodgers and the WNBA‘s Los Angeles Sparks. Kushner was also previously a minority owner of the Memphis Grizzlies. Last year, he also purchased a minority stake in the Miami Heat.
Kushner’s supermodel wife Karlie Kloss has a limited partnership stake in the WNBA’s New York Liberty.
Iger was the CEO of Disney from 2005 to 2020 and from 2022 to earlier this year. He stepped down this year, with theme parks head Josh D’Amaro taking over his role. Iger also returned to Thrive Capital, a New York-based venture capital firm founded by Joshua Kushner.
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The Lakers is one of the league’s most popular and successful franchises. The Lakers have 17 titles, second only to the Boston Celtics.
The Lakers, however, are undergoing some changes as they watched LeBron James leave in free agency to sign with the Philadelphia 76ers.
Los Angeles will turn the team over to superstar Luka Doncic as the franchise looks to win a championship for the first time since 2020.