Former Disney Chief Executive Officer Bob Iger has joined forces with Thrive Capital founder Josh Kushner to acquire the Los Angeles Lakers in a transaction valued at over twelve billion dollars. This acquisition places the entertainment industry veteran in charge of one of professional sports most iconic franchises. The new ownership group purchased the team from Mark Walter, who had obtained controlling interest from the Buss family for approximately ten billion dollars previously. Both Iger and Kushner stated they are lifelong basketball fans and expressed honor at becoming stewards of the Lakers organization. They promised a long-term commitment to compete at the highest level while serving fans and the city of Los Angeles. This purchase represents another significant career chapter for Iger following his retirement as Disney CEO in March 2026, though he remains on Disney’s board through year end. The deal keeps one of entertainment industry most recognizable executives firmly in the Los Angeles spotlight.
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