Disney’s long-serving CEO, Bob Iger, and venture capitalist Joshua Kushner have agreed to buy the Los Angeles Lakers. This acquisition from Mark Walter’s ownership group amounts to $12.5 billion.
The transaction comes less than a year after Walter acquired the Lakers for a previous record of $10 billion. This move now surpasses that record by $2.5 billion. Both Iger and Kushner have expressed their enthusiasm, stating, “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.”
The financial dealings of Dodgers owner Mark Walter, including this sale, are under federal investigation. The focus is on related-party transactions that might present conflicts of interest. These include deals between entities with business or personal ties.
Moreover, Bob Iger, alongside his wife Willow Bay, is investing in Los Angeles’ Angel City Football Club. They plan to contribute $50 million to support the women’s soccer club’s budget expansion. Willow Bay, the dean of USC’s Annenberg School for Communication and Journalism, emphasizes the cultural significance of their involvement with the club.