The Los Angeles Lakers — the gold standard of NBA royalty — are getting a fresh injection of star power at the top, and the league’s most glamorous franchise is poised to enter a thrilling new chapter.
Investor Joshua Kushner and former Disney chief executive Bob Iger have agreed to purchase a controlling stake in the Lakers in a deal valued at a reported $17.7 billion AUD, shattering the record for the most expensive North American sports franchise ever sold.
The blockbuster transaction, announced Wednesday, arrives barely a year after billionaire Mark Walter agreed to acquire a controlling interest in the team in what was then a record $10 billion deal — and it signals that the purple and gold are only growing more valuable by the minute.
A dream pairing for Laker Nation
Kushner, the brother of Jared Kushner — son-in-law of President Donald Trump — and founder of the Thrive Capital investment firm, is teaming up with Iger, the legendary entertainment executive who transformed Disney into a global juggernaut during his two stints at the helm.
Together, they bring a potent blend of financial firepower and showbusiness savvy to a franchise that has always thrived at the intersection of winning and Hollywood glamour.
"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 joint 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."
Doncic ready to go to work
The new ownership group inherits a roster now spearheaded by 27-year-old Slovenian sensation Luka Doncic, who wasted no time embracing the change.
"I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise," Doncic posted on X. "I look forward to meeting Josh and Bob so we can get to work building something special in LA together."
The endorsement from the franchise’s new on-court centerpiece sets an emphatically positive tone as the Lakers pivot toward their next era.
Magic gives his blessing
No seal of approval carries more weight in Los Angeles than that of Earvin "Magic" Johnson, and the Lakers legend delivered it in full.
"I want to congratulate my good friend Bob Iger and Josh Kushner on their purchase of the Los Angeles Lakers!" Johnson wrote on X. "Laker fans, you couldn’t have two better owners. I’ve known Bob personally for over 40 years — he has always loved the Lakers and basketball and he will bring championships back to LA."
High praise from the man who helped build the Showtime dynasty of the 1980s — and a clear signal that the franchise’s new custodians have the goodwill of its most beloved figures.
A record-shattering valuation
The deal marks the second time in just over a year that the Lakers have reset the ceiling for sports franchise valuations, underscoring the extraordinary appetite among ultra-wealthy buyers for marquee American teams.
Walter’s purchase last June ended the Buss family’s 46-year reign over the NBA giants — a tenure that produced 17 championships, second only to the Boston Celtics, and made the Lakers synonymous with basketball greatness.
Over the decades, the franchise has been home to some of the biggest superstars the game has ever seen: Kareem Abdul-Jabbar, Shaquille O’Neal, the late Kobe Bryant, and most recently LeBron James, the NBA’s all-time scoring leader, who departed this summer for the Philadelphia 76ers after eight years and one title in purple and gold.
What comes next
The sale still requires approval from the NBA’s board of governors, but the momentum behind the deal appears overwhelming.
Kushner, who previously held a stake in the Memphis Grizzlies, will divest his current ownership interest in the Miami Heat to clear the way. Iger, who stepped down as Disney CEO in March, already has sports ownership experience after purchasing a controlling interest in the NWSL’s Angel City FC in 2024.
For a franchise that has always measured itself in championships, the message from the new regime is unmistakable: the goal remains banner No. 18, and the resources to chase it just got a whole lot bigger.
Laker Nation, buckle up. The next chapter of Showtime is about to begin.
