Bob Iger and Joshua Kushner are the new owners of the LA Lakers in a $12.5 billion valuation, according to different reports.
The deal comes less than a year after Mark Walter bought a controlling ownership stake in the team.
The new owners released a statement after the news surfaced: "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."
"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," they added.
CNBC recalled that the two have been business partners in Thrive Capital, a venture capital firm run and founded by Kushner earlier this year. Iger, on his end, stepped down as CEO of Disney earlier this year after 20 years at the head of the company divided in two stints.
Kushner and Iger had considered the possibility of buying and NBA expansion team in Las Vegas. Expansion could have taken place in the 2028-29 season. The league's Board of Governors has to approve the purchase. Its next meeting is set for the next month and the process could take several weeks.
Mark Walter had bought the lakers in October at a $10 billion valuation. However, the outlet cited a Bloomberg report noting that Securities and Exchange Commission and U.S. prosecutors were investigating potential financial improprieties at two of his insurance companies and at Guggenheim Partners, the financial firm he still leads.
CNBC also cited a Wall Street Journal report noting that Walter had a stroke in 2024 and his health has "become a matter of concern inside his business empire, with varying opinions on whether lingering effects from the stroke have impacted his fitness to lead his businesses."
