Bob Iger and Josh Kushner’s record $12.5 billion Los Angeles Lakers takeover could usher in a new era for the franchise, with questions already swirling over whether Jeanie Buss and Rob Pelinka will remain in place.
Lakers Sale Sets New Sports Franchise Record
The Los Angeles Lakers are set for another ownership change less than a year after Mark Walter acquired control of the franchise from the Buss family.
Iger, the former Walt Disney Co. (NYSE:DIS) CEO, and venture capitalist Kushner have reportedly agreed to purchase a controlling stake in the Lakers for a $12.5 billion valuation.
Josh Kushner is the founder of Thrive Capital and launched Thrive Eternal as a long-term investment vehicle. He is the brother of Jared Kushner, the son-in-law of President Donald Trump and an administration envoy.
The deal would set a record for the highest valuation ever for a U.S. professional sports team, surpassing Walter’s roughly $10 billion purchase. The transaction still requires NBA approval and due diligence.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers,” Iger and Kushner said in a joint statement, adding that they intend to continue investing in the team’s competitiveness and serving its fans and Los Angeles.
Will Jeanie Buss Stay With Lakers?
Despite the ownership change, Buss, the governor and minority owner of the Los Angeles Lakers, is expected to remain for at least five years under an agreement reached when Walter acquired the franchise from her family.
In a statement to the NY Post, Iger stated, “We have enormous respect and appreciation for Jeanie, her father and what they’ve contributed to this franchise.”
He added, “If things change, they’ll change, but we’re going into this with enormous respect and appreciation for who she is and what she represents in the organization.”
Bloomberg’s Mark Gurman reacted to the report on X, saying, “Jeanie and Rob are gone,” referring to Buss and Lakers general manager Pelinka.
In a previous post, Gurman had said, “Anyone who knows the history of Disney CEO succession the last several years doesn’t need to worry. Current Lakers management will be gone.”
These comments appear to be Gurman’s prediction rather than confirmation of an immediate leadership change.
Iger’s Lakers Bet Bigger Than Pixar, Marvel
The scale of the transaction also highlights Iger’s reputation as a major dealmaker.
Politico’s Daniel Miller noted that the $12.5 billion Lakers purchase exceeds the prices Disney paid for Pixar ($7.4 billion), Lucasfilm ($4.05 billion) and Marvel ($4 billion) under Iger’s leadership.
Lakers legend Magic Johnson welcomed the transaction, writing on X: “I want to congratulate my good friend Bob Iger and Josh Kushner on their purchase of the Los Angeles Lakers!”
Earlier, Lakers star Luka Doncic reacted to the ownership change on X, saying that “being a Laker means everything” to him.
“I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise,” Doncic said.
Price Action: Walt Disney Co. closed at $103.22 on Wednesday, down 0.30%, while shares were up 0.04% to $103.26 in after-hours trading, according to Benzinga Pro.
According to Benzinga Edge Stock Rankings, Disney ranks in the 53rd percentile for growth, with the stock showing a positive price trend in the short and medium term despite a continued long-term decline.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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