Venture capitalist Josh Kushner and former Disney CEO Bob Iger have agreed to purchase the Los Angeles Lakers for more than $12.5 billion, marking the highest price ever paid for an American sports franchise, multiple sources confirmed Wednesday.
Kushner, founder and managing partner of Thrive Capital, and Iger, who served as Disney's chief executive from 2005 to 2020 and again from 2022 to 2026, are acquiring the franchise from current owner Mark Walter, who purchased a controlling stake from the Buss family last year for approximately $10 billion.
"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," Kushner and Iger said in a statement. "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."
The deal eclipses the previous record set by Walter's 2025 purchase and surpasses billionaire Vinod Khosla's $9.6 billion acquisition of the Seattle Seahawks earlier this year.
Kushner, 36, grew up in an Orthodox Jewish household in Livingston, New Jersey, and attended Yeshivat Reishit, a Modern Orthodox yeshiva located in Jerusalem and Beit Shemesh, before earning a degree in government from Harvard University in 2008. He later obtained an MBA from Harvard Business School in 2011. Thrive Capital has backed early-stage startups including Instagram, Spotify, Stripe, and OpenAI, and has become one of the most influential venture firms in Silicon Valley.
Kushner is the younger brother of Jared Kushner, son-in-law of President Donald Trump.
The Lakers, one of basketball's most storied franchises with 17 championships, finished fourth in the Western Conference last season before losing to the Oklahoma City Thunder in the semifinals. The team will be led by six-time NBA All-Star Luka Dončić, who led the league with 33.5 points per game last season.
Kushner and Iger had been involved in discussions regarding an NBA expansion team in Las Vegas before pivoting to make an aggressive offer for the Lakers, according to ESPN.
Iger remains a majority owner of Angel City FC, the Los Angeles-based National Women's Soccer League franchise, which he and his wife purchased in 2024. Kushner also holds a minority ownership stake in the NBA's Miami Heat.
