LA Lakers to be sold to former Disney CEO and brother of Trump’s son-in-law in $12.5bn deal

The Los Angeles Lakers, one of the most storied franchises in National Basketball Association (NBA) history, are set to change hands in a landmark $12.5 billion deal. The team is being sold to former Walt Disney Company chief executive Bob Iger and investor Joshua Kushner, marking a historic shift in ownership and setting a new benchmark for valuations in North American professional sports. The announcement came on Wednesday, revealing that the Lakers will transition from the control of the Buss family, who have led the franchise since 1975, to Iger and Kushner. This sale follows a previous high-profile transaction in which billionaire Mark Walter acquired a controlling interest in the team for $10 billion in June of last year. That move ended the Buss family’s 46-year stewardship of the franchise, which has been central to the NBA’s legacy and success. Kushner, who is the brother of U.S. President Donald Trump’s son-in-law, Jared Kushner, brings a mix of business acumen and media influence to the table. Alongside Iger, who recently stepped down from his role at Disney, the duo expressed their enthusiasm for taking on the challenge of leading the Lakers into the future. In a joint statement, they emphasized their deep admiration for the team’s history and their commitment to building upon the legacy established by past leaders such as Jerry and Jeanie Buss. The Lakers, known for their rich history and numerous accolades, have secured 17 NBA championships, placing them second only to the Boston Celtics. Over the decades, the team has been home to legendary players such as Kareem Abdul-Jabbar, Shaquille O’Neal, and the late Kobe Bryant. More recently, the roster has included LeBron James, the NBA’s all-time leading scorer, who departed for the Philadelphia 76ers after eight seasons with the Lakers. With James gone, the team looks ahead to a new era, led by 27-year-old Slovenian star Luka Doncic. Doncic, who has quickly become one of the league’s most influential figures, expressed excitement about working with the new owners. He shared a message on social media indicating his eagerness to collaborate with Iger and Kushner to create something exceptional in Los Angeles. The sale still awaits approval from the NBA’s board of governors, a step necessary before the transaction can officially close. Meanwhile, the current owner, Mark Walter, continues to manage his growing portfolio, which includes the Los Angeles Dodgers and a stake in Chelsea Football Club. However, Walter faces ongoing scrutiny from federal authorities regarding alleged tax fraud related to his insurance ventures. As the Lakers prepare for this transformation, the broader implications of the sale extend beyond the basketball court. The involvement of Iger and Kushner signals a potential shift in how major sports franchises are managed and marketed, potentially influencing other leagues and teams looking to expand their reach through strategic investments. The Lakers' future will undoubtedly be shaped by the decisions made in the coming months as the ownership transition unfolds.