The Los Angeles Lakers were sold to Joshua Kushner and Bob Iger, the businessmen confirmed to NBC News on Wednesday.
An agreement was reached to purchase the Lakers for a record $12.5 billion, ESPN reported.
“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,” a statement read.
“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 statement continued.
Walter purchased the Lakers from the Buss family last year for a then-record franchise valuation of approximately $10 billion. He still owns the Los Angeles Dodgers and Los Angeles Sparks.
Kushner, 41, founded venture capital firm Thrive Capital. He’s the brother of Jared Kushner, the son-in-law of President Donald Trump. He attempted to buy the World Cup operations from FIFA last month before a deal was scrapped.
Iger, 75, was Disney’s CEO before his term ended earlier this year. In 2024, he became the controlling owner of NWSL team Angel City FC in Los Angeles.
