Bob Iger and Josh Kushner Buy LA Lakers for Record $12.5 Billion
Former Disney CEO Bob Iger and venture capitalist Josh Kushner have agreed to purchase the NBA's Los Angeles Lakers from Mark Walter for approximately $12.5 billion, the highest price ever for a U.S. sports franchise. The deal, pending NBA Board of Governors approval, values the team 21% above the $10 billion Walter paid for a controlling stake just 14 months ago. The acquisition reflects surging sports franchise valuations and billionaire investment trends.
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Los Angeles Lakers worth 'every bit' of $12.5 billion price tag: 76ers and Commanders owner Josh Harris
The Los Angeles Lakers have been sold for $12.5 billion, setting a new record for a professional sports team sale. The deal, in which Joshua Kushner and Bob Iger bought majority equity from Mark Walter, follows a previous sale in June 2025 that valued the team at $10 billion. Josh Harris, owner of the Washington Commanders and Philadelphia 76ers, told CNBC the Lakers are worth every bit of the price, noting that his own $6 billion purchase of the Commanders in 2023 now looks attractive. Harris dismissed concerns about a sports valuation bubble, citing growing interest in live content, global fan bases, and increasing private equity investment. The $12.5 billion price represents an estimated 20 times the team's 2025-26 season revenue, an all-time high multiple for an NBA team control stake.
L.A. Lakers Sale Complicated by Buss Family Dispute Over Remaining Stake
The sale of the Los Angeles Lakers has become contentious as five of six Buss siblings voted to sell their remaining 17.8% stake to Bob Iger and Josh Kushner, but acting governor Jeanie Buss opposes the sale. The dispute stems from a family trust and a 2017 court ruling. The sale follows Mark Walter's agreement to sell the team after a federal investigation into potential insurance fraud. Jeanie Buss, who previously fired brother Jim Buss in 2017, risks losing her governor role if the sale proceeds, as NBA rules require controlling owners to hold at least 15% of the franchise. The siblings cite a tag-along provision from the earlier sale to Walter, while Jeanie argues no sale can occur without her approval as co-trustee.
L.A. Lakers $12.5 Billion Sale Complicated by Buss Family Dispute
The proposed $12.5 billion sale of the Los Angeles Lakers to Josh Kushner and Bob Iger is facing internal family conflict. Mark Walter, who bought majority ownership from the Buss family in 2025, is selling the team amid a federal investigation. Five of the six Buss siblings voted to sell their remaining 17.8% stake, but acting governor Jeanie Buss opposes the sale, citing a 2017 court ruling requiring co-trustee approval. The siblings argue a tag-along provision and majority vote allow the sale. If completed, Jeanie Buss would lose her governor role due to NBA ownership rules. The dispute is the latest in a long history of family rifts over control of the franchise, which Jerry Buss purchased in 1979.
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Joshua Kushner and Bob Iger's $12.5 Billion Lakers Deal Highlights Tax Benefits of Sports Team Ownership
Thrive Capital founder Joshua Kushner is partnering with former Disney CEO Bob Iger to acquire approximately 83% of the Los Angeles Lakers for $12.5 billion, pending approval and legal challenges from Jeanie Buss. The deal places Kushner in an elite group of sports investors, but the article highlights a compelling tax strategy behind the purchase. Sports teams are considered powerful tax shelters, allowing owners to offset income through amortization of intangible assets like media rights, player contracts, and goodwill. Analysts predict Kushner and Iger will allocate 90% or more of the purchase price to intangible assets, depreciable over 15 years under Section 197 of the tax code. This strategy is particularly advantageous for Kushner, who faces large capital gains from his holdings in SpaceX, OpenAI, and Stripe. The article also includes a roundup of recent venture capital, private equity, and exit deals.
Lakers governor Jeanie Buss says siblings cannot sell family’s stake to Bob Iger, Joshua Kushner
Los Angeles Lakers governor Jeanie Buss is opposing the potential sale of her family's 17.8% stake in the NBA team, contradicting an earlier ESPN report. In a letter obtained by CNBC, her lawyer Adam Streisand argues that Jeanie Buss remains the controlling shareholder per a 2017 court order and that no sale can occur without her consent. The other five Buss siblings—Jim, Johnny, Janie, Joey, and Jesse—issued a statement saying they made the decision to sell the family's remaining stake and remain united. Last week, Bob Iger and Joshua Kushner agreed to buy Mark Walter's majority stake in the Lakers, valuing the team at $12.5 billion. Jeanie Buss wants to hold onto the team stake for value reasons and to maintain her role as governor, according to a person familiar with the matter.
Sale of the Los Angeles Lakers: Basketball Deal Under Massive Pressure
The article reports on the controversial sale of the Los Angeles Lakers basketball team for $12.5 billion to Josh Kushner, brother of Donald Trump's son-in-law Jared Kushner, and former Disney CEO Bob Iger. Speculation is rife that President Trump influenced the deal. The previous owner, Mark Walter, sold under pressure after just one year, facing FBI investigations into his life insurance companies for $17 billion in fraudulent investments. Walter's firms allegedly circumvented regulations, and he now needs the sale proceeds to refinance. The article suggests the buyer selection may be politically motivated, as Iger previously aligned with Trump, and Walter may hope for reduced regulatory pressure under Trump-appointed officials.
Read sourceJeanie Buss seeks to block sale of family's 17.8% stake in Los Angeles Lakers
Jeanie Buss, the governor of the Los Angeles Lakers, is taking legal action to block the sale of a 17.8% stake in the team by her siblings. The stake, part of the Buss family's controlling interest, is reportedly being sold to a group that includes former Disney CEO Bob Iger and investor Joshua Kushner. Jeanie Buss argues that her siblings cannot sell the stake without her approval, citing a family trust agreement. The dispute has drawn attention from other NBA owners, including Boston Celtics owner Wyc Grousbeck, who gave a blunt response to the potential sale. The outcome could affect control of the Lakers franchise.
Read sourceJeanie Buss Seeks to Block Sale of Family's 17.8% Stake in Los Angeles Lakers
Jeanie Buss, governor of the Los Angeles Lakers, is taking legal action to block her siblings from selling the family's 17.8% stake in the NBA franchise. The potential buyers are reportedly Bob Iger, former CEO of Disney, and Joshua Kushner, a businessman and brother-in-law of former President Donald Trump's daughter Ivanka Trump. The dispute highlights a deepening family feud within the Buss family, which has controlled the Lakers since the late Jerry Buss purchased the team in 1979. Jeanie Buss argues that her siblings cannot sell the stake without her approval, citing existing agreements and her role as the team's controlling owner. The sale, if completed, would value the Lakers at over $5 billion. The conflict has drawn significant media attention, with multiple outlets covering the legal and familial battle over one of the most valuable franchises in professional sports.
Read sourceJeanie Buss legally contests siblings' plan to sell Lakers stake to Iger and Kushner
Los Angeles Lakers governor Jeanie Buss is legally challenging her siblings' plan to sell the family's remaining 17.8% minority stake in the team to Josh Kushner and Bob Iger. The sale would drop Jeanie Buss below the NBA's required 15% ownership threshold, ending her role as governor. Her attorney argues the co-trustees are bound to maintain her controlling ownership. The siblings voted to sell, but Jeanie Buss claims the vote is void. The deal, which includes a separate sale of a controlling stake by Mark Walter, values the Lakers at $12.5 billion. The Buss family has been in conflict since patriarch Jerry Buss's death in 2013. The NBA board must still approve the sale.
Read sourceRoss Gerber Claims Mark Walter's Lakers Sale Was Forced by Federal Probe into Insurance Empire
Investor Ross Gerber alleges that Los Angeles Lakers owner Mark Walter did not sell the team voluntarily but was compelled by a federal investigation into his insurance-linked business empire. Gerber claims Walter used policyholder funds from insurance companies he controls to build his empire, violating insurance laws. Federal prosecutors in Manhattan and the SEC are investigating Guggenheim Partners and Walter's insurance firms, Delaware Life Insurance and Clear Spring Life and Annuity, over disclosure of private credit investments. Walter is selling his majority stake in the Lakers to investors Josh Kushner and Bob Iger for $12.5 billion, netting a $2.5 billion profit. Gerber says the sale was forced, calling it 'shady.' Bloomberg journalist Joe Pompliano notes Kushner stands to benefit most, using the Lakers as a vehicle to save hundreds of millions in taxes amid Thrive Capital's upcoming liquidity events.
Read sourceJeanie Buss Contests Family Vote to Sell Lakers Stake to Kushner and Iger
Jeanie Buss, the controlling owner of the Los Angeles Lakers, is contesting a vote by her family to sell the remaining ownership stake in the team to a group led by Josh Kushner and Bob Iger. Multiple news outlets report that Buss has not agreed to the sale, and her lawyer has stated she is legally challenging the decision. The proposed sale would transfer the Buss family's remaining shares to the Kushner-Iger consortium, but Jeanie Buss's opposition creates significant uncertainty about the deal's completion. The situation has been described as a 'wacky day in Lakers land' by the Los Angeles Times, highlighting the internal family dispute over the future of the franchise.
Read sourceJeanie Buss Contests Family Vote to Sell Lakers Stake to Bob Iger and Joshua Kushner
Los Angeles Lakers governor Jeanie Buss is legally contesting a vote by her siblings to sell their controlling stake in the NBA franchise to a group led by former Disney CEO Bob Iger and investor Joshua Kushner. The Buss family has owned the Lakers since 1979, when Jeanie's father, Jerry Buss, purchased the team. Following Jerry Buss's death in 2013, a trust was established with Jeanie as governor, but other siblings hold significant shares. Reports indicate that a majority of the siblings voted to sell their combined 66% stake, valuing the franchise at over $6 billion. Jeanie Buss argues that the sale violates the terms of the family trust and has filed legal action to block the transaction, asserting that she has the right to maintain control and prevent the sale to outside investors. The dispute highlights a deep rift within the Buss family over the future of one of the most iconic franchises in professional sports.
Read sourceJeanie Buss Opposes Siblings' Plan to Sell Lakers Stake to Josh Kushner and Bob Iger
Jeanie Buss, governor of the Los Angeles Lakers, has publicly opposed her siblings' plan to sell the family's remaining 17.8% minority stake in the team to Josh Kushner and Bob Iger. In a letter from her lawyer, she declared any vote on the sale void and accused her siblings of leaking false information to ESPN. The dispute follows the sudden agreement by controlling owner Mark Walter to sell his roughly 65% stake to Kushner and Iger for $12.5 billion, amid a federal fraud investigation into Walter's insurance firms. If the Buss family stake is sold, Kushner and Iger would control about 83% of the franchise, and Jeanie Buss would lose her role as team governor under NBA ownership rules. The sale has also sparked conspiracy theories linking Kushner to his brother Jared Kushner, a Trump family member, though the White House has denied any connection.
Read sourceJeanie Buss Contesting Family's Sale of Stake in Lakers
Los Angeles Lakers governor Jeanie Buss is legally contesting her siblings' attempt to sell their combined 27% stake in the team to a group led by former Disney CEO Bob Iger and investor Joshua Kushner. The sale, reportedly valuing the franchise at around $12.5 billion, has created a dramatic rift within the Buss family. Jeanie Buss, who controls the team as governor, argues that her siblings cannot sell their shares without her approval, citing a family trust agreement. The dispute highlights a power struggle over the future of one of the NBA's most iconic franchises, with potential implications for team control and ownership structure.
Read sourceJeanie Buss Opposes Sale of Lakers Family Stake to Bob Iger and Joshua Kushner
Los Angeles Lakers governor Jeanie Buss is opposing the potential sale of her family's 17.8% stake in the NBA team to Bob Iger and Joshua Kushner, contradicting an earlier ESPN report. In a letter obtained by CNBC, her attorney Adam Streisand argues that Jeanie Buss remains the controlling shareholder per a 2017 court order, and no sale can occur without her consent. The letter states that the co-trustees of the JAB Trust are bound to vote shares to maintain Jeanie Buss's minimum 15% ownership requirement. A source familiar says Buss does not want to sell at this time. Last week, Iger and Kushner agreed to buy Mark Walter's majority stake in a deal valuing the team at $12.5 billion.
Read sourceBuss Family to Sell Remaining Lakers Stake to Josh Kushner and Bob Iger
The Buss family, longtime owners of the Los Angeles Lakers, plans to sell their remaining 17.8% stake in the team to Josh Kushner and Bob Iger, according to multiple reports. This follows last week's agreement by Kushner and Iger to purchase the Lakers for $12.5 billion from Mark Walter, who sold amid a federal fraud investigation. If the Buss family sale proceeds, Kushner and Iger will hold a combined 83% stake. Jeanie Buss, daughter of former owner Jerry Buss, will lose her role as team governor under NBA rules requiring owners to hold at least 15% of a team. The Buss family trust, comprising Jerry Buss's six children, voted on the sale, with Jeanie, Janie, and Joey Buss responsible for executing it. The Lakers were valued at $10 billion by Forbes in January 2026. The sale has sparked conspiracy theories linking the federal probe to Kushner, brother of Jared Kushner, but the White House denied any connection to President Trump.
Why Mark Walter—Facing Federal Scrutiny And Trump Conspiracy Theories—May Have Sold The Lakers
Mark Walter, billionaire owner of the Los Angeles Dodgers and former owner of the Lakers, sold the Lakers franchise for $12.5 billion just over a year after acquiring it. The sale comes as federal prosecutors and the SEC investigate whether Walter's insurance companies improperly funneled billions in loans to his other businesses through intermediary firms. Walter's insurer, Delaware Life, disclosed grand jury subpoenas in February. The sale has sparked conspiracy theories suggesting the Trump administration pressured Walter to sell to benefit Josh Kushner, brother of Jared Kushner, though a White House spokesperson denied involvement. Walter is reportedly seeking to raise funds by offering his Guggenheim Partners stake as collateral to address the scrutinized loans.
Joshua Kushner's Lakers Purchase Seen as Tax Shelter for Carried Interest Income
Billionaire investor Joshua Kushner and former Disney CEO Bob Iger have agreed to buy the Los Angeles Lakers for a record $12.5 billion. While the deal gives them an iconic NBA franchise with 17 championships, tax experts highlight significant tax benefits. Ram Ahluwalia of Lumida Wealth Management called the acquisition a 'powerful tax shield' to offset carried interest income from Kushner's investments in SpaceX, OpenAI, and Stripe. Sports teams allow owners to depreciate assets like player contracts and stadium infrastructure, generating paper losses that reduce taxable income, even as the team appreciates in value. The deal follows other high-profile team sales, including the Seattle Seahawks for $9.6 billion and the Boston Celtics for $6.1 billion. Broadcast rights and in-person experience spending have made franchise values compound faster than most asset classes.
Josh Kushner and Bob Iger acquire LA Lakers for $12.5 billion days after failed World Cup deal
Josh Kushner, the 41-year-old billionaire venture capitalist and brother of Jared Kushner, partnered with former Disney CEO Bob Iger to purchase the NBA's Los Angeles Lakers from Mark Walter at a record $12.5 billion valuation. The deal came together in just three days, following Kushner's failed attempt to buy a stake in future World Cup profits through a controversial FIFA plan. Kushner, who founded Thrive Capital and Oscar Health, has a net worth of about $5 billion. He and his wife Karlie Kloss publicly distance themselves from the conservative politics of his brother and father. Iger, a longtime basketball fan, previously owned Clippers season tickets. The new owners must sell Kushner's minority stake in the Miami Heat to complete the Lakers purchase.
Read sourceJoshua Kushner and Bob Iger to Buy Los Angeles Lakers for Record $12.5 Billion
Billionaire investor Joshua Kushner, founder of Thrive Capital, has announced a partnership with former Disney CEO Bob Iger to acquire the Los Angeles Lakers for a record $12.5 billion, pending NBA Board of Governors approval. The deal would be the largest sale price for a professional sports team in U.S. history. Kushner, 41, made his fortune through early investments in Instagram, Spotify, and OpenAI. His firm Thrive Capital has invested over $2 billion in OpenAI, including a recent $1 billion round at a $285 billion valuation. OpenAI CEO Sam Altman praised Kushner's investment style, saying he makes 'high-conviction bets' and doesn't care what other investors think. Kushner previously held stakes in the Memphis Grizzlies, and Thrive Capital already holds minority stakes in the San Francisco Giants and Miami Heat. Kushner is now the richest member of his famous family with an estimated $5.2 billion net worth.
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