Bob Iger joins Josh Kushner in $12.5bn Lakers purchase
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Former Disney chief executive Bob Iger has joined investor Josh Kushner in the reported $12.5 billion purchase of the Los Angeles Lakers. The deal is notable both for its scale and because Iger had previously said supporting the Lakers was “not in my DNA”, having long been associated with the rival Los Angeles Clippers.
The reported valuation places the transaction among the largest in professional sport. The article provides no confirmed information on the ownership structure, financing arrangements or timetable, focusing instead on the contrast between Iger’s past Clippers support and his role in the Lakers ownership group.
- Bob Iger joins Josh Kushner in reported Lakers purchase
- Deal is valued at $12.5 billion
- Iger previously supported the rival Clippers
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The Los Angeles Lakers are one of the best-known teams in the National Basketball Association, the top men’s basketball league in the United States and Canada. Based in Los Angeles, they have won numerous league titles and have been associated with players including Magic Johnson, Kobe Bryant and LeBron James.
Bob Iger is a prominent US business executive who led Disney for many years. Josh Kushner is an investor and founder of the venture capital firm Thrive Capital; he is also the brother of Jared Kushner, who served as an adviser to former US President Donald Trump.
Sports teams have become major investment assets, with high-profile clubs often valued in the billions of dollars because of their broadcast income, commercial partnerships and global fan bases. The Lakers also share their home city with the Los Angeles Clippers, a long-standing NBA rival.
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Originally published by Fox News as “Los Angeles Lakers buyer, ex-Disney chief Bob Iger once said rooting for team was ‘not in my DNA’”.