The former Disney chief executive and the founder of Thrive Capital have agreed to acquire the Los Angeles Lakers in a deal valuing the NBA team at $12.5 billion, subject to due diligence and approval from the league.
The transaction comes only 14 months after the Buss family sold a controlling stake in the Lakers to billionaire Mark Walter at a $10 billion valuation, highlighting just how rapidly the value of elite sports franchises continues to rise.
A new chapter for one of basketball’s biggest brands
For decades, the Lakers have existed at the intersection of sport, entertainment and celebrity culture.
The franchise has been home to some of basketball’s most recognisable names and has built an identity extending far beyond the NBA. Its position in Los Angeles has also made the team a natural part of Hollywood culture.
Iger and Kushner described themselves as lifelong NBA fans and said they were honoured by the opportunity to become stewards of the Lakers.
Their stated goal is to build on the foundation established by Jerry and Jeanie Buss, remain competitive at the highest level and continue serving the team’s fans and the city of Los Angeles.
Bob Iger moves from entertainment to sport
The deal marks another significant chapter for Bob Iger following his departure from Disney.
Iger stepped down from the top role at the entertainment giant in March and has since taken on an advisory position at Thrive Capital, the investment company founded by Josh Kushner.
His involvement with the firm is not entirely new. Iger previously served as a venture partner at Thrive before returning to Disney in 2022 to replace Bob Chapek as chief executive.
Now, his experience managing one of the world’s largest entertainment companies could prove particularly relevant to a franchise such as the Lakers, where sport, media, brand partnerships and celebrity culture are deeply interconnected.
Josh Kushner brings major investment experience
Kushner has built Thrive Capital into one of the most prominent technology-focused investment firms in the United States.
The company has backed businesses including Instagram, Spotify, Patreon, Robinhood, OpenAI and A24, placing it at the centre of several major shifts in technology, media and entertainment.
Thrive recently raised approximately $10 billion across a new group of investment funds, giving the firm significant resources for future expansion.
Kushner already has experience with professional basketball ownership through a minority stake in the Miami Heat.
The Lakers acquisition would move his involvement in the NBA to an entirely different level.
Lakers enter a period of major change
The ownership transition arrives during a particularly significant moment for the franchise.
LeBron James recently left the Lakers after eight seasons with the team, signing with the Philadelphia 76ers in July.
His departure effectively closes one era in Los Angeles just as the organisation prepares to begin another under new ownership.
The combination of a changing roster and a new ownership group could make the coming seasons some of the most important in the Lakers’ recent history.
Hollywood’s basketball team
Few sports franchises have built such a close relationship with entertainment culture as the Lakers.
Late owner Jerry Buss helped transform attending a Lakers game into an essential Los Angeles social experience during the famous “Showtime” era.
Courtside seats gradually became symbols of status, regularly attracting some of the biggest personalities in film, music and entertainment.
Over the years, stars including Leonardo DiCaprio, Snoop Dogg, Denzel Washington and Jack Nicholson have become familiar faces at Lakers games.
That connection between basketball and Hollywood helped turn the franchise into something larger than a traditional sports organisation.
The Lakers are not simply an NBA team. They are a global entertainment brand.
A $12.5 billion sports empire
The proposed valuation of $12.5 billion reflects the extraordinary growth in the value of premium sports franchises.
Major teams are increasingly being viewed as scarce global assets with multiple revenue streams extending across media rights, sponsorships, merchandise, live entertainment and international brand development.
The Lakers occupy a particularly strong position within this landscape thanks to their history, location, global fan base and connection to celebrity culture.
For Iger, whose career has been built around some of the world’s most valuable entertainment properties, the move into elite sports ownership feels like a natural extension.
For Kushner, it represents another major investment at the intersection of culture, technology and global influence.
If the transaction receives final approval, one of basketball’s most famous teams will enter a new era under two figures whose careers have already helped shape modern entertainment and investment.
