Former Disney CEO Bob Iger, along with Thrive Capital founder Josh Kushner, have purchased the Los Angeles Lakers for over $12 billion.

Iger and Kushner were previously considering a major investment in a Las Vegas NBA expansion team before shifting gears to the Lakers.

“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,” Iger and Kushner said in a statement. “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 purchased the team from Mark Walter, who had snagged a controlling interest from the Buss family last year for approximately $10 billion. Walter had been the majority owner since October.

“Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead,” said Walter in a statement.

Iger retired from his position as CEO of The Walt Disney Company in March but remains a Senior Advisor and a member of the Disney Board until the end of 2026.

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