Bob Iger joins Josh Kushner in $12.5bn Lakers purchase
Developing story first seen 4 hours ago
The article adds that former Disney chief executive Bob Iger has joined investor Josh Kushner in buying the Los Angeles Lakers for a reported $12.5 billion. The development is notable because Iger had previously said supporting the Lakers was “not in my DNA”, having spent years backing their Los Angeles rivals, the Clippers.
The reported valuation would make the Lakers transaction among the largest in professional sport. The article does not provide further confirmed details on the ownership split, financing or timetable, instead focusing on the contrast between Iger’s past fandom and his prospective role in the Lakers’ ownership group.
- Bob Iger reportedly joins Josh Kushner in $12.5bn Lakers purchase.
- Iger previously supported the rival Clippers.
- Deal lacks detailed ownership and financing information.
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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’”.