Bob Iger & Josh Kushner: The Duo Behind Lakers’ $12.5B Takeover

Bob Iger and Josh Kushner have finalized a landmark $12.5 billion acquisition of the Los Angeles Lakers, marking the largest-ever purchase of a North American sports team. The deal, confirmed by multiple sources, sees the duo take control of the iconic NBA franchise from current owner Mark Walter, who acquired the team just 14 months ago for $10 billion. This rapid turnover highlights the shifting dynamics in sports ownership, particularly within the NBA, where the Lakers remain one of the most valuable and recognizable brands. The transaction is expected to undergo final approvals from the NBA’s board of governors before officially closing. The agreement was reportedly struck quickly, with Kushner reaching out to Walter on a Friday and the deal coming together over the following weekend. According to a source familiar with the negotiations, Walter had not been actively seeking to sell the franchise, yet the terms of the offer were compelling enough to prompt immediate action. The timing of the sale coincides with Walter facing potential federal scrutiny related to his broader business operations, though no formal charges have been filed. The new owners bring a distinct vision for the Lakers, combining Iger’s deep experience in media and entertainment with Kushner’s growing influence in both venture capital and sports investment. Bob Iger, 75, has spent nearly two decades at the helm of The Walt Disney Company, serving as CEO from 2005 to 2020 and returning for a brief stint in 2022 before stepping down again earlier this year. Under his leadership, Disney expanded significantly, acquiring major properties such as Pixar, Marvel, Lucasfilm, and 20th Century Fox. Iger played a pivotal role in launching ESPN’s direct-to-consumer streaming platform, building on the foundation of ESPN+. His departure from Disney in 2020 led him to join Kushner’s venture capital firm, Thrive Capital, as a partner before rejoining Disney in 2022. He later returned to Thrive as an advisor, a relationship that facilitated the Lakers deal. Iger and his wife, Willow Bay, have also been involved in sports through their ownership of Angel City FC, a women’s soccer team based in Los Angeles. Josh Kushner, 41, is a prominent figure in the venture capital industry, having founded Thrive Capital in 2010. The firm has raised over $10 billion in recent years, investing in companies such as OpenAI, SpaceX, Spotify, SKIMS, and A24. Kushner has cultivated a reputation for making bold, high-conviction bets on innovative startups and established firms alike. In addition to his venture capital pursuits, he has expanded his interests into sports and legacy institutions, forming Thrive Eternal to focus on non-replicable assets. Through this entity, Kushner acquired a minority stake in the San Francisco Giants and holds a minority interest in the Miami Heat, which he will be required to divest as part of the Lakers acquisition. Kushner’s personal life has drawn considerable attention, especially following the Lakers deal. Married to model Karlie Kloss, the couple has three children, with their youngest arriving in September 2025. Kushner is the younger brother of Jared Kushner, who was a senior White House adviser to former U.S. President Donald Trump. Despite their familial ties, Josh has maintained a clear distinction from his brother’s political involvement, emphasizing liberal values in his public statements. His net worth is estimated at around $5 billion, primarily derived from his stakes in Thrive Capital and other ventures. The Lakers acquisition represents a significant shift in the landscape of professional sports ownership. With Iger’s extensive media background and Kushner’s financial acumen, the new ownership group is poised to reshape the franchise’s strategy, potentially expanding its global reach and enhancing its digital presence. The deal underscores the increasing convergence of entertainment and sports industries, with major players leveraging cross-industry synergies to drive value. As the NBA’s board of governors prepares to review the transaction, the future direction of the Lakers, and the broader implications for sports ownership, remains a topic of keen interest among fans and analysts alike.