The Los Angeles Lakers, one of the most iconic sports franchises in the world, are on the verge of being sold to Josh Kushner, the founder of Thrive Capital, and Bob Iger, the former CEO of Disney, for a record $12.5 billion.
This sale, which was agreed upon in August, is still pending approval from the NBA's Board of Governors, but it marks a significant milestone in the history of the Lakers and the NBA as a whole.
Key Takeaways
- The Los Angeles Lakers are being sold to Josh Kushner and Bob Iger for a record $12.5 billion.
- The sale marks a new era for the franchise and could have significant implications for the future of the NBA.
- The deal sets a new benchmark for the valuation of professional sports franchises and highlights the growing trend of private equity and venture capital firms investing in sports franchises.
Who is Josh Kushner and what does he bring to the table?
Josh Kushner is a venture capitalist and the founder and CEO of Thrive Capital, a New York-based investment firm that has backed several successful technology companies, including OpenAI, the company behind ChatGPT.
Kushner comes from a real estate family and is the younger brother of Jared Kushner, who is married to Ivanka Trump, the daughter of former US President Donald Trump.
What does the sale mean for the Lakers and their fans?
The sale of the Lakers to Josh Kushner and Bob Iger marks a new era for the franchise, which has a rich history of success on the court and a loyal fan base.
In a joint statement, Kushner and Iger said, "As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles."
How does the sale affect the NBA and its valuation?
The sale of the Lakers for $12.5 billion sets a new record for the highest price paid for a professional sports franchise, surpassing the previous record of $10 billion set by the sale of the Lakers in 2025.
According to ESPN Research, the Lakers now account for the two highest prices paid for a professional sports franchise, with the Seattle Seahawks sale at $9.6 billion and the Boston Celtics sale at $6.1 billion following closely behind.
By the numbers
- $12.5 billion: The record price paid for the Los Angeles Lakers
- $10 billion: The previous record price paid for the Lakers in 2025
- $9.6 billion: The price paid for the Seattle Seahawks
- $6.1 billion: The price paid for the Boston Celtics
What are the implications of the sale for the NBA's future?
The sale of the Lakers to Josh Kushner and Bob Iger could have significant implications for the future of the NBA, including potential changes to the league's ownership structure and valuation.
The NBA's review process will examine the financing and ownership structure of the deal, ensuring that it meets the league's standards and requirements.
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What comes next in the sale process?
Once the agreement is signed, the NBA's Board of Governors will review and approve the sale, after which Mark Walter, the current controlling owner of the Lakers, will transfer ownership to Josh Kushner and Bob Iger.
The sale is expected to be completed in the coming months, pending NBA approval, marking a new era for the Los Angeles Lakers and the NBA as a whole.
How will the sale impact the Lakers' operations and fan experience?
The sale of the Lakers to Josh Kushner and Bob Iger is expected to bring new investment and resources to the franchise, potentially leading to improvements in the team's operations and fan experience.
Kushner and Iger have expressed their commitment to building on the foundation established by the Buss family and competing at the highest level, which could lead to increased success on the court and a more engaging experience for fans.
What does the sale mean for the future of sports ownership and valuation?
The sale of the Lakers for $12.5 billion sets a new benchmark for the valuation of professional sports franchises, potentially leading to increased investment and interest in the sports industry.
The deal also highlights the growing trend of private equity and venture capital firms investing in sports franchises, which could lead to new opportunities and challenges for teams and leagues in the future.
Frequently Asked Questions
Who is buying the Los Angeles Lakers?
Josh Kushner and Bob Iger are buying the Los Angeles Lakers for $12.5 billion.
What is the significance of the sale?
The sale marks a new era for the franchise and sets a new record for the highest price paid for a professional sports franchise.
What are the implications of the sale for the NBA's future?
The sale could have significant implications for the future of the NBA, including potential changes to the league's ownership structure and valuation.
