Now Reading: Kushner, Iger buy LA Lakers for record $12 bn
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Kushner, Iger buy LA Lakers for record $12 bn
Investment magnate Josh Kushner and former Disney CEO Bob Iger have agreed to buy the Los Angeles Lakers from Mark Walter for more than $12 billion, according to sources cited by ESPN’s…
The Story in Brief
Investment magnate Josh Kushner and former Disney CEO Bob Iger have agreed to buy the Los Angeles Lakers from Mark Walter for more than $12 billion, according to sources cited by ESPN’s Ramona Shelburne. If the NBA approves, it would be the highest price ever paid for a sports franchise. The deal marks the second change in controlling ownership in a year, after Walter bought a majority stake from the Buss family last year at a valuation of roughly $10 billion.
Kushner, founder of Thrive Capital, holds a minority stake in the Miami Heat and recently invested in the San Francisco Giants. His net worth is estimated at $5.2 billion by Forbes. Despite being the brother of Donald Trump’s son-in-law Jared Kushner, Josh has been a lifelong Democrat and publicly opposed Trump. He and Iger said in a statement they are 'deeply honoured' to become stewards of the Lakers and will build on the foundation laid by the Buss family.
The Indian Opinion
The headlines scream dynasty and Trump connections, but the story is simpler. Josh Kushner is a lifelong Democrat who built Thrive Capital on tech bets, not family politics. The $12 billion price tag is not a bubble; it reflects the Lakers’ global brand and NBA media rights growth. Instead of chasing Kushner’s brother, watch the NBA owners’ vote. That will tell us if the league sees this valuation as sensible or a risk.
Sources (4): ndtvprofit.com, hindustantimes.com, hindustantimes.com (2), hindustantimes.com (3)
This story was synthesised by AI from the 4 sources linked above.
