Bob Iger, former CEO of Disney, and Joshua Kushner, founder of the venture capital firm Thrive Capital, are purchasing the Los Angeles Lakers from Mark Walter. The transaction is valued at $12.5 billion, marking a $2.5 billion increase from when Walter acquired the team from the Buss family last October.
Mark Walter’s Financial Affairs Under Investigation
Mark Walter, also the owner of the Dodgers, is under federal investigation for potential improprieties in financial dealings. The focus is on related-party transactions, where entities with personal or business ties engage in deals like loans or sales. These transactions often require detailed disclosure to avoid conflicts of interest.
Dodgers Not on the Market
Despite divesting the Lakers, Walter reportedly has no intention to sell the Dodgers. Sources clarify that while he has sold one major asset, the iconic Dodgers remain under his control.
Bob Iger’s Longtime Aspiration for Sports Ownership
Throughout his career, Iger has shown a keen interest in owning a major sports franchise. His acquisition of the Lakers fulfills this ambition. Previously, Iger has invested in Angel City FC, providing insights into his approach to team management.
Joshua Kushner: A Sports Enthusiast
Kushner is recognized for his extensive investment interests in sports. His foray into team ownership includes stakes in the Miami Heat and ventures in global soccer. Thrive Capital, Kushner’s firm, also focuses on maintaining long-term ownership in significant franchises.
Jeanie Buss’s Continued Governance Role
Despite the change in ownership, Jeanie Buss will continue as the Lakers’ governor for at least five years. Her role ensures the Buss family’s ongoing influence within the franchise.
Magic Johnson’s Endorsement
Magic Johnson expressed strong support for Iger and Kushner’s acquisition. Praising their basketball passion, Johnson believes their leadership will positively impact the Lakers and help them secure future successes.
Statements from Key Figures
‘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 stated to ESPN. They aim to build on the Buss legacy and advance the team.
Mark Walter emphasized his honor in having owned the Lakers, acknowledging the team’s community significance.
Luka Doncic expressed excitement about working with Iger and Kushner to achieve further successes for the Lakers.