Iger, Kushner to buy Los Angeles Lakers in record $12.5bn deal

Bob Iger and Josh Kushner have agreed to acquire the Los Angeles Lakers in a landmark transaction valued at $12.5 billion, according to ESPN. The deal marks the highest valuation ever recorded for an NBA franchise and follows a previous ownership change that saw billionaire Mark Walter purchase a controlling stake in the team for $10 billion in June of last year. The Lakers, one of the most storied franchises in professional sports, will transition from the long-standing Buss family to the new owners. The Lakers, based in Los Angeles, have a rich history dating back decades. They have claimed 17 NBA championships, placing them second behind the Boston Celtics, who hold the record with 17 titles as well. The team has been home to legendary players such as Kareem Abdul-Jabbar, Shaquille O’Neal, and the late Kobe Bryant. More recently, LeBron James, the NBA's all-time leading scorer, departed the team in free agency after eight seasons, during which he helped secure one championship. His departure leaves the Lakers without their most prominent star, though they remain a powerhouse in the league. Josh Kushner, co-owner of the team, is the brother of Jared Kushner, former senior advisor to U.S. President Donald Trump. Bob Iger, the former chief executive officer of Walt Disney Company, brings extensive experience in media and entertainment to the table. The acquisition is expected to bring fresh investment and strategic direction to the franchise, potentially reshaping its future both on and off the court. The sale must still receive approval from the NBA’s board of governors, a step that could take several weeks. Once finalized, the new ownership structure will officially replace the Buss family, whose control over the team spanned four decades. The Buss family had previously held the majority stake since acquiring the team in 1979, marking the end of a long chapter in the franchise’s history. The Lakers' move to new ownership coincides with broader changes within the NBA landscape. In recent years, the league has seen a shift toward larger financial investments and more global appeal, with teams increasingly becoming business ventures as much as sporting entities. The Lakers’ high valuation reflects this trend, signaling confidence in the team’s brand value and potential for continued success. The transition also raises questions about how the new owners plan to approach the team’s operations, player acquisitions, and fan engagement. With the NBA’s salary cap and free agency system allowing for significant roster adjustments, the Lakers may look to rebuild around emerging stars or attract top talent through competitive bidding. The team’s legacy, however, remains intact, built upon decades of iconic moments and cultural impact. As the approval process moves forward, the focus will shift to how the new ownership will navigate the challenges and opportunities ahead.