Disney Ex-CEO Bob Iger Buys LA Lakers

A group led by former Disney CEO Bob Iger and investor Joshua Kushner has agreed to buy a controlling interest in the Los Angeles Lakers from Mark Walter in a deal valuing the NBA franchise at about $12.5 billion, the highest price ever paid for a sports team.

The agreement, confirmed by people familiar with the matter, marks a sharp rise from the $10 billion valuation when Walter purchased a majority stake from the Buss family last year. That earlier sale had itself set a record, coming only months after the Boston Celtics sold for $6.1 billion.Walter, the 66-year-old CEO of Guggenheim Partners who also owns the Los Angeles Dodgers and holds a stake in Chelsea FC, is the subject of a federal investigation into whether private-credit deals involving his companies amounted to fraud. 

His businesses have denied wrongdoing. The probe has put pressure on his financial empire and helps explain the rapid decision to sell the Lakers less than a year after acquiring them.

In a statement, Walter said: “Owning the Los Angeles Lakers has been one of the great honors of my life. It has been an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”

When Walter bought the team in June 2025, the NBA stipulated that Jeanie Buss, daughter of longtime owner Jerry Buss, would remain the controlling governor for at least five years. The Buss family had controlled the franchise since 1979 and retains a minority stake.

Iger, 75, a well-known basketball fan and courtside regular at Lakers and Clippers games, previously worked closely with NBA Commissioner Adam Silver while running Disney, the league’s broadcast partner. He also serves as an adviser to Kushner’s Thrive Capital, the firm backing the purchase.