Bob Iger and Joshua Kushner acquired a controlling stake in the Los Angeles Lakers from Mark Walter at a valuation exceeding $12.5 billion, according to sources familiar with the deal. The transaction represents one of the largest sports franchise acquisitions in history and marks Iger's first major investment since departing Disney.
Kushner, founder and managing partner of Thrive Capital, brings venture capital expertise to the ownership group. Iger, who stepped down as Disney CEO in November 2022, adds deep entertainment and media experience to the franchise. Walter, the billionaire founder of Guggenheim Partners, retains minority ownership despite reducing his stake.
The $12.5 billion valuation reflects the sustained premium placed on NBA franchises despite economic headwinds elsewhere in sports. The Lakers rank among the most valuable teams globally, driven by Los Angeles market size, historic brand strength, and the franchise's ten championship titles. The sale also underscores how wealthy individuals from tech and finance continue rotating capital into sports ownership as alternative asset classes.
This deal follows years of ownership discussions at the Lakers. The franchise generated significant revenue through ticket sales, merchandise, and media rights tied to the NBA's lucrative broadcasting agreements. The team's revenue streams include local television deals plus revenue-sharing from national NBA contracts worth billions annually across all 30 franchises.
For sports investment, this transaction signals continued confidence in NBA franchise valuations despite declining television ratings in some demographics. The league's global expansion, streaming deals through ESPN Plus and Amazon Prime Video, and international merchandise sales support the premium pricing. Iger's involvement particularly matters for potential integration between Lakers operations and Disney's ESPN sports network, though no specific strategic plans emerged from the announcement.
The acquisition also reflects broader wealth concentration trends among billionaires and venture capital firms acquiring sports franchises as inflation hedges and prestige assets. Kushner's Thrive Capital manages billions in assets across tech startups and established companies, while Iger brings operational expertise from his 15-year tenure leading Disney through streaming expansion and franchise acquisitions.
Lakers investors now monitor NBA revenue projections, national broadcast negotiations set for renewal after the 2024-25 season, and franchise performance during the 2024-25 roster cycle.