The Los Angeles Lakers have new owners.
In a joint statement, Iger and Kushner said, "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." They added, "We have immense respect for the leadership and vision of Jerry and Jeanie Buss."
Walter acquired the team less than twelve months ago. He also has stakes in MLB's Los Angeles Dodgers, English Premier League soccer team Chelsea and the WNBA's Los Angeles Sparks.
Iger, 75, left Disney's CEO post earlier this year; he had spent roughly 20 years leading the media company over two separate stints. Earlier this year, Iger became part of Thrive Capital, the investment firm Kushner founded and runs. Kushner is Jared Kushner's brother; Jared is married to Ivanka Trump.
The two have been business partners before, as Iger joined Thrive Capital earlier this year.
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On Wednesday, the sale became public, and in their announcement, Iger and Kushner voiced their dedication to the franchise and LA.
Walter had only held the majority ownership for under a year before this sale. His other sports holdings include the Dodgers, Chelsea, and the Sparks, all of which remain under his ownership as the sale only covers his Lakers stake.
The new owners' backgrounds in business and media are well-documented. Iger's long career at Disney and Kushner's leadership at Thrive Capital bring a mix of entertainment and investment expertise to the Lakers organization.
The Buss family's role in the team's leadership was acknowledged in the statement, with Iger and Kushner expressing respect for Jerry and Jeanie Buss. This suggests a smooth transition as the new ownership group takes over.
The transaction was announced on Wednesday, August 12, 2026.
The acquisition marks a significant shift in the Lakers' ownership structure. With Iger's extensive experience in entertainment and media, and Kushner's expertise in venture capital and technology, the team could explore new revenue streams and digital initiatives. The pair's previous interest in bringing an NBA team to Las Vegas suggests they have ambitious plans for expanding the Lakers' brand beyond Los Angeles. However, as the statement indicated, they are committed to maintaining the team's legacy and working closely with the Buss family during the transition.
The sale represents a historic moment for a franchise that has been under the Buss family's guidance for decades. The new owners' combined expertise in entertainment and venture capital could open new avenues for the team's growth, including potential international marketing deals and digital media ventures. While the Buss family remains involved in leadership, as acknowledged in the statement, the transition is expected to be smooth given the mutual respect expressed.
As the Lakers move forward under new ownership, fans and analysts will be watching to see how this change impacts the team's future. For now, the sale is complete, and the focus shifts to the upcoming season.
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